Bon-Ton, the parent company of retailer Herberger’s, announced that it is "winding down operations" after declaring bankruptcy.
"Bon-Ton will move forward in a constructive manner to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve," the company said in a news release.
There are several Herberger’s stores in Montana – in Holiday Village Mall in Great Falls, and in Havre, Butte, Kalispell, Missoula, and Billings.
MTN News has received several reports that employees of the Herberger’s store in Great Falls were notified on Tuesday of the likely closure of the store; no date has been announced at this point.
We do not yet know how many employees are affected, nor whether another tenant has been lined up for the space. The last "anchor" store to close at Holiday Village Mall was Sears; the space it occupied is now the location of PetSmart and Hobby Lobby.
Here is text from the press release by Bon-Ton:
On April 17, 2018, The Bon-Ton Stores announced the winning bid in an auction for the Company’s assets held pursuant to Section 363 of the U.S. Bankruptcy Code. Bon-Ton will move forward in a constructive manner to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve.
At this time, all of our Bon-Ton, Boston Store, Bergner’s, Carson’s, Elder-Beerman, Herberger’s and Younkers stores across the United States are open, and our e-commerce and mobile platforms are operating normally. We continue to offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings, just as we always have.
Bill Tracy, Bon-Ton President and Chief Executive Officer: “While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going concern, we are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve. We are incredibly grateful to all of our associates for their dedicated service to Bon-Ton and to our millions of loyal customers who we have had the pleasure to serve as their hometown store for more than 160 years.”
The company says that throughout the court-supervised asset sale process, the stores, e-commerce and mobile platforms under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates will remain open throughout the store closing sales.
Bon-Ton expects to provide more details about the liquidation plans and going out of business sales at its stores following approval of the winning bid by the Bankruptcy Court.
RELATED: Parent company of Herberger’s files for Chapter 11 bankruptcy
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