The Bon-Ton Filing for Bankruptcy
After announcing earlier this week that they would be closing 42 under-performing stores, The Bon-Ton Stores now says it plans to file for bankruptcy protection. In addition to the stores that will close 20 others on a closure watch list.
Three of the stores to be closed are in New York State, but none of them are in Western New York. The three stores to be closed are in Queensbury, Watertown and Massena, all of them in northern New York.
Most of the stores that are closing around the country are in Illinois, Pennsylvania and Wisconsin.
The Bon-Ton Stores missed a $14-million dollar interest payment in December and lenders had given the chain additional time to either negotiate a bankruptcy settlement or to renegotiate the debt.
The Bon-Ton Stores have 260 stores in 24 states. Here in Western New York they operate stores in Tonawanda, Clarence, Lockport, Wheatfield, Hamburg, West Seneca, Lakewood and Olean.