Friday, April 20, 2018

As Bon-Ton’s Fortunes Shift, Investors Brace for Liquidation

NREI Online

About one week ago Bon-Ton Stores appeared to have escaped the spiral of bankruptcy and liquidation that haunts so many retailers these days, after it got an offer from a group of investors including REIT Washington Prime Group, fund manager DW Partners and Namdar Realty to buy the company.

By Monday evening, however, the Milwaukee-based department store operator’s fortune shifted dramatically after reports emerged that only a couple of bidders turned up at its liquidation auction, according to industry observers. Instead of a buyout, the discussion has now turned to liquidating Bon-Ton Stores for good.. . . more