Bon-Ton announces it’s filing for Chapter 11 bankruptcy
Bon-Ton Stores, Inc., announced Monday that it is filing for Chapter 11 bankruptcy.
Last week, the company announced it is closing 47 of its store locations, including the Bon-Ton store in Carlisle.
The statement on the company’s website appears below:
Bon-Ton has been taking action over the past several months to drive improved performance and strengthen the Company’s financial position, and has now taken another step forward in its efforts by filing voluntary petitions for a court-supervised restructuring under Chapter 11. We are currently engaged in constructive discussions with potential investors and our debtholders on a financial restructuring plan, and the actions we are taking are intended to give us additional time and financial flexibility to evaluate options for our business.
For all of our customers, vendors and talented associates – our Bon-Ton, Boston Store, Bergner’s, Carson’s, Elder-Beerman, Herberger’s and Younkers stores across the United States are open, and our e-commerce and mobile platforms are operating normally. We continue to offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings, just as we always have.
We are committed to pursuing the path that we believe is in the best interests of our company and our stakeholders, and we will continue to provide our customers with quality merchandise and an exceptional shopping service as we move through this financial restructuring process.