Bon-Ton Heads to Liquidation

Younkers looks set to close as parent of chain draws no bidders to continue operating retailer
Shoppers line up outside Younkers at the Oakview Mall on Thanksgiving Day 2016 for a Black Friday sale
Author

18 April, 2018

Under WARN, employers are required to give 60 days advance notice of covered plant closings and covered mass layoffs. Sears and Younkers worked together to open the mall in northeast Cedar Rapids in 1960, and are Lindale's only remaining original stores.

Southbridge Mall's owner didn't return multiple calls from a Globe Gazette reporter seeking comment Tuesday afternoon.

It appears the end might be near for Younkers and other Bon-Ton Stores brands.

An attorney for Bon-Ton said at a hearing last week that the investor group that signed a letter of intent with the retailer represented "the last and only opportunity for the debtors to continue operating in business".

The auction still had not ended by late Monday, Reuters reported.

Fierce Clashes Continue At Gaza-Israel Border Fence
Hundreds of Palestinians have been wounded after thousands staged a mass protest along Gaza's sealed border with Israel on Friday. On Friday, most of the demonstrators assembled in five tent camps located several hundred meters (yards) from the border fence.


Winner Of $533 Million Mega Millions Jackpot To Claim Prize
He declined to talk about his family or go into details about where they might go or if they'd move. Mega Millions can be played in 44 U.S. states as well as Washington, D.C., and the U.S.


GOLDMAN SACHS: Tesla's production issues go beyond the Gigafactory
Finally, ValuEngine raised shares of Tesla from a "sell" rating to a "hold" rating in a research note on Sunday, December 31st. The rating was maintained by Deutsche Bank with "Hold" on Monday, August 10. 3/29/2018-Nomura Reiterated Rating of Buy.


Bon-Ton, which opened in 1854, first filed for Chapter 11 bankruptcy protection on February 4. The deal, however, included a number of contingencies and required Bon-Ton to seek court approval for the company to pay a $500,000 work fee as the parties sought to finalize a purchase agreement.

Money from the auction will be used to pay Bon-Ton's creditors.

Reuters reports, the only bidders competing at the Monday start of its court-supervised auction were liquidators.

The moves comes as state officials are waiting for key players in the River City Renaissance Project to meet benchmarks for the state to approve about $10 million. Its 200 stores anchor many mall across the USA under a variety of brand names. Its Southbridge store opened November 8, 1984, ahead of the mall on May 23, 1985. There is also a Younkers store in Duluth.

Among those in the Westdale Mall location in Cedar Rapids, that was announced earlier this year.


More news


  • More Than 200 Million Eggs Recalled After Salmonella Outbreak

    Rose Acre Farms of Seymour, Indiana, has issued a voluntary recall of its eggs due to possible contamination with the bacteria. Double-check your eggs-there's a massive egg recall in progress over salmonella fears, USA Today reports.
    Panarin's OT goal powers Columbus move past Capitals

    Panarin's OT goal powers Columbus move past Capitals

    We're just doing it too often. "I thought there were clearly numbers (visible) there, so I'll just put it in the league's hand. Panarin had three points in one game after recording just one in the Blackhawks' first-round loss via sweep last season.
    Bitcoin Diamond (BCD) raised $0.279499999999999 during a day

    Bitcoin Diamond (BCD) raised $0.279499999999999 during a day

    The move forced traders who had bet against bitcoin to buy back into the market, or cover their shorts. BUY - SELL - EXCHANGE Bitcoin Diamond (BCD) AT BEST RATE Aproximately 26 BCD worth $183 was traded.
  • Local, national average gas prices highest since 2015

    Local, national average gas prices highest since 2015

    US crude production, meanwhile, was seen at 10.69 million barrels a day this year, down 0.1% from the previous forecast. The price is up three cents over the past month, up 18 cents over the past month and up 29 cents from one year ago.
    One Of Tristan Thompson's Ladies Claims She Didn't Know About Khloe

    One Of Tristan Thompson's Ladies Claims She Didn't Know About Khloe

    He feels for her". "They all keep reassuring her that everything will be OK and to stay calm for the baby". One fan in the crowd also showed her support for Khloe by holding up a sign which read "We love Khloe".
    Tony Cottee: 'West Ham United were poor against Chelsea'

    Tony Cottee: 'West Ham United were poor against Chelsea'

    I thought I saw a definite movement with his knee towards Jack". "Whether it was a penalty or not, we didn't get it. Fans of both clubs also stood up to applause in the eighth minute while singing, "There's only one Ray Wilkins".
  • Lahore High Court bans airing of anti-judiciary speeches by Nawaz Sharif

    Lahore High Court bans airing of anti-judiciary speeches by Nawaz Sharif

    Maryam made the most adverse remarks about the five judges who handed down disqualification to Mr. Uncivilized restrictions can not be placed in the country".
    De Bruyne: City building for years of success

    De Bruyne: City building for years of success

    Raheem Sterling's incredible form this season is a big reason for Manchester City's Premier League success - what an improvement. After 33 rounds of matches, Pep Guardiola-coached Man City have 87 points, while Man United have 71 points.
    Police release body-camera footage with Nasim Aghdam — YouTube shooting

    Police release body-camera footage with Nasim Aghdam — YouTube shooting

    Nasim Aghdam, 39, eventually shot and injured three people at the San Bruno location before she killed herself. She explained that they weren't getting along and she wanted to start a new life with family in Mountain View.
  • Bayern Munich confirm Kovac will replace Heynckes

    Bayern Munich confirm Kovac will replace Heynckes

    Borussia Monchengladbach head coach Dieter Hecking insists his team will not settle for limiting the damage against the champions. Respect is hugely important in such a collective. "The players must know each other and respect each other".
    School Shooter Wants VICTIMS to Share His Inheritance — FLORIDA AFTERMATH

    School Shooter Wants VICTIMS to Share His Inheritance — FLORIDA AFTERMATH

    Police arrested him shortly after the shooting, and Cruz has confessed to being the gunman, court documents show. His defense team has said Cruz will plead guilty and serve life in prison if it means avoiding an execution.
    Azerbaijan's Aliyev on track to win fourth term as president

    Azerbaijan's Aliyev on track to win fourth term as president

    Opposition leaders say these "dummy candidates" were hand-picked by the authorities so the vote looks competitive. The ramps will also facilitate the persons using wheelchair to come to polling stations independently and vote.