Wednesday, April 11, 2018

Mall owners team up to buy bankrupt Bon-Ton

Chain Store Age
An investor group made up of two mall owners — Washington Prime Group and Namdar Realty Group — and alternative asset manager DW Partners have signed a letter of intent to acquire The Bon-Ton Stores as a going concern in a Bankrupt Court-supervised sale process.

In teaming up to save Bon-Ton, the two mall owners would be following in the footsteps of Simon Property Group and General Growth Properties. In fall 2016, the two companies teamed up to buy bankrupt teen apparel retailer Aeropostale.  The deal is credited with keeping 229 Aeropostale stores open.. . . more