As we reported, The Bon Ton is expecting to close 40 stores in the face of declining sales. Now a list from a credit rating agency is saying that the Indiana Mall location could be one of those stores.
Morningstar credit rating agency has released a list of 36 stores that they expect will close for good and the Indiana Mall location is 23rd on the list. The two top threats are two stores that operate under the Younkers Brand, one in Sioux City, Iowa and the other in Midland, Michigan. The Bon Ton has closed four of its stores since the start of this year.
There’s no official word yet from The Bon Ton on which stores will close, so for now at the Indiana Mall Location, it’s business as usual. The Bon Ton has taken financial losses due to declining foot traffic, a consumer shift away from apparel, and increased competition from online marketplaces. If the closure goes through, it would mark the third anchor store in the Indiana Mall to announce it’s closure in a year’s time.
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