Bon-Ton Stores, parent company of Herbergers, announced Tuesday that a winning bid of $775.5 million was made by liquidators Great American Group and Tiger Capital Group and a group of Bon-Tons debt holders.
While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going concern, we are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve, Bill Tracy, chief executive of Bon-Ton, said in a statement.