Younkers to close 8 stores in Iowa

18 April, 2018, 05:37 | Author: Terri Saunders
  • Iowa Younkers Stores to Close Parent Company Headed for Liquidation	 	 	 			Younkers

Bon-Ton had been working with property owners Washington Prime Group and Namdar Realty Group to buy the company out of bankruptcy and continue operating some of the stores. The department store was founded in Keokuk, Iowa, in 1856 by Polish immigrant brothers Lipman, Samuel and Marcus Younker. Bon-Ton also operates Herberger's-branded department stores in Norfolk, Hastings, Kearney, North Platte and Scottsbluff, Nebraska. Toys R Us, with a store at High Ridge Center near Regency Mall, is going out of business.

Bon-Ton employed 550 people within a 30-mile radius of the Lehigh Valley as recently as September 2016, but a more updated headcount has not been provided.

Employees received the news on Tuesday morning. But last week the judge overseeing the department store retailer's case nixed a proposal to pay the investor group a fee of $500,000 to compensate them for due diligence costs.

The auction still had not ended by late Monday, Reuters reported. A spokesperson for Bon-Ton did not immediately respond to a request for comment, Reuters said. Stores would likely close in 10 to 12 weeks, the newspaper reported.

Riley Nash expected back in Bruins lineup Monday
We went 1-1-1. "We hung in there, you know, but it was frustrating". "We'll assume he'll improve with a couple of days off". He finally scored a goal, the one that turned out to be the victor , which he thought was a statement he needed to make.


The end could be near for Bon-Ton Stores.

Bon-Ton also has Younkers stores in Eau Claire, Marshfield and Green Bay. During a court hearing last week, Steve Zelin, a partner at NY restructuring firm PJT Partners, which Bon-Ton hired in September, said the marketing process started late past year and resulted in 22 signed nondisclosure agreements - some before the bankruptcy filing, and some after.

The Sioux City store at the Southern Hills Mall is expected to close June 5th. Mountain Development Corporation, which is based in New Jersey, co-owns the mall.

Online shopping, which has affected all brick-and-mortar retailers by reducing mall traffic, hit Bon-Ton particularly hard.

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