The Bon-Ton Stores, Inc. (OTCQX:BONT) (“the Company”), today announced the 42 locations that will be closed as part of its previously communicated store rationalization program. The closing stores will include locations under all of the Company’s nameplates.
“As part of the comprehensive turnaround plan we announced in November, we are taking the next steps in our efforts to move forward with a more productive store footprint,” said Bill Tracy, president and chief executive officer for The Bon-Ton Stores. “Including other recently announced store closures, we expect to close a total of 47 stores in early 2018. We remain focused on executing our key initiatives to drive improved performance in an effort to strengthen our capital structure to support the business going forward.”
Mr. Tracy continued, “We would like to thank the loyal customers who have shopped at these locations and express deep gratitude to our team of hard-working associates for their commitment to Bon-Ton and to serving our customers.”
In order to ensure a seamless experience for customers, Bon-Ton has partnered with a third-party liquidator, Hilco Merchant Resources, to help manage the store closing sales. The store closing sales are scheduled to begin on February 1, 2018 and run for approximately 10 to 12 weeks. Associates at these locations will be offered the opportunity to interview for available positions at other store locations.
The closing locations announced today are in addition to five other recently announced store closures, four of which the Company completed at the end of January and one at which the Company will conclude its closing sale in February.
more at: http://investors.bonton.com/news-releases/news-release-details/bon-ton-stores-inc-announces-locations-store-closures-part-store