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Bon-Ton to close two stores
03
Nov '11
The Bon-Ton Stores Inc announced it will close its Bon-Ton store in the West Manchester Mall in York, Pennsylvania and its Elder-Beerman store in the Northwest Mall in Dayton, Ohio. The Company will not renew these leases, which terminate January 2012 and February 2012, respectively. The closings will impact approximately 52 associates at the West Manchester Mall location and 56 associates at the Northwest Mall location.

The Bon-Ton acquired the leasehold interests in the West Manchester store in 1979 and the Northwest store as part of the Elder-Beerman acquisition in 2003. The Company does not expect costs associated with the closing of the locations to be material. The stores will close at the end of their respective lease terms.

Bud Bergren, President and Chief Executive Officer, commented, "The Company continually reviews the performance of its assets; as a result of these reviews, we made the decision to close the aforementioned stores.

"Our York- and Dayton-area customers are invited to shop with us at our other stores in each market as we will continue to provide great service and an outstanding merchandise assortment at these locations. We are very grateful for the devoted West Manchester and Northwest store associates and are committed to providing assistance to these associates."

Mr. Bergren continued, "We are looking forward to the opening of our two new stores on November 9; a Carson's store in the Markland Mall in Kokomo, Indiana and a Herberger's store in the Southdale Center in Edina, Minnesota."

The affected associates in the West Manchester and Northwest stores will be offered the opportunity to interview for available positions at other York Bon-Ton or Dayton Elder-Beerman stores, respectively, or receive career transition benefits, including severance, according to established practices and state employment service support.

The Bon-Ton Stores Inc

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Courtesy: AWI

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