The Indiana Mall has suffered the loss of two of its anchor stores this year, with the closing of the Kmart and the impending closure of Sears. Could the Bon Ton be next?
The store chain announced yesterday that it will close forty of its stores next year. It did not announce which of the 260 company-owned stores will go out of business. Bon Ton also operates stores under the names The Boston Store, Younkers, Bergner’s, Carson’s, Elder-Beerman, and Herberger’s. The company is based in York and in Milwaukee, Wisconsin. The store closures will come under all of the brands, so not all of them will be Bon Ton stores.
Sales at the 260 stores fell 7.6 percent in the third quarter of this year, with the company losing almost $45 million. It has lost $135.4 million in the first three quarters of 2017.
Forty stores would represent one-sixth of the company’s holdings.
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