WILMINGTON, Del./NEW YORK (Reuters) – Bon-Ton Stores Inc, a bankrupt chain of 200 regional department stores, will go out of business after the only bidders competing at the Monday start of its court-supervised auction were liquidators, two sources familiar with the matter told Reuters.
Bon-Ton had been working with U.S. mall owners Namdar Realty Group and Washington Prime Group Inc (WPG.N) to secure a bid that would have kept open a large portion of Bon-Ton locations. Bon-Ton is a major tenant of both landlords and its survival would have helped protect the value of their malls.
The failure of the company, with headquarters in York, Pennsylvania and Milwaukee, comes weeks after Toys R Us began a piecemeal liquidation of its namesake sto…
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