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Bon-Ton to shutter Elder-Beerman store
31 Aug '10
2 min read
The Bon-Ton Stores, Inc. announced that it will close its 191,000 square foot Elder-Beerman store in the Centerville Place in Centerville, Ohio. The closing will impact approximately 65 associates. The location is scheduled to close by late January 2011.
Bud Bergren, President and Chief Executive Officer, commented, “The Company continually reviews the performance of its assets; as a result of a review of the Centerville location and its proximity to our Dayton Mall store, we made the decision to close this location. We will continue to provide great service and an outstanding merchandise assortment to our Dayton-area shoppers at our remaining six Elder-Beerman stores. We are very grateful for the devoted Centerville store associates and are committed to providing assistance to these associates.”
The affected associates at the Centerville location will be provided an opportunity to consider available positions within the Dayton-area Elder-Beerman stores or receive career transition benefits, including severance, according to established practices and state employment service support.
The monies received net of closing costs will give rise to a gain on the disposal of the Centerville store. The accretive net impact of the closing will be income of approximately $0.10 per diluted share in fiscal 2010.
The Bon-Ton Stores, Inc. operates 278 stores, including 11 furniture galleries, in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's and Younkers nameplates and, in the Detroit, Michigan area, under the Parisian nameplate. The stores offer a broad assortment of brand-name fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings.
Bud Bergren, President and Chief Executive Officer, commented, “The Company continually reviews the performance of its assets; as a result of a review of the Centerville location and its proximity to our Dayton Mall store, we made the decision to close this location. We will continue to provide great service and an outstanding merchandise assortment to our Dayton-area shoppers at our remaining six Elder-Beerman stores. We are very grateful for the devoted Centerville store associates and are committed to providing assistance to these associates.”
The affected associates at the Centerville location will be provided an opportunity to consider available positions within the Dayton-area Elder-Beerman stores or receive career transition benefits, including severance, according to established practices and state employment service support.
The monies received net of closing costs will give rise to a gain on the disposal of the Centerville store. The accretive net impact of the closing will be income of approximately $0.10 per diluted share in fiscal 2010.
The Bon-Ton Stores, Inc. operates 278 stores, including 11 furniture galleries, in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's and Younkers nameplates and, in the Detroit, Michigan area, under the Parisian nameplate. The stores offer a broad assortment of brand-name fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings.
The Bon-Ton Stores Inc
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