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The Bon-Ton Stores Inc. (BONTQ)

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Current BONTQ status on OTCMarkets.com: https://www.otcmarkets.com/stock/BONTQ/overview






The Bon-Ton Stores, Inc.
Chapter 11 Bankruptcy Case (18-10248) Info: https://cases.primeclerk.com/bonton/Home-Index



Current Docket Info - The Bon-Ton Stores, Inc. - Case# 18-10248: https://cases.primeclerk.com/bonton/Home-DocketInfo

 

 



Authorized Shares of BONTQ: 40,000,000 09/19/2017 and Outstanding Shares of BONTQ: 17,857,465 09/19/2017


 


 

Check out The Bon-Ton Stores, Inc. on Social Media: Facebook https://www.bonton.com/ Twitter https://twitter.com/bonton Instagram https://www.instagram.com/bontonstyle/



Current news trending on The Bon-Ton Stores, Inc. on Bing.com: https://www.bing.com/news/search?q=Bon-Ton+&FORM=HDRSC6 


Current news on Google: https://news.google.com/topics/CAAqIggKIhxDQkFTRHdvSkwyMHZNRGgzZURodUVnSmxiaWdBUAE?hl=en-US&gl=US&ceid=US%3Aen




Information on the Bon-Ton Stores, Inc. - below - Source: https://en.wikipedia.org/wiki/The_Bon-Ton

Founded in 1898, The Bon-Ton Stores Inc. is a publicly-held American department store chain corporation which is headquartered in York, Pennsylvania, and MilwaukeeWisconsin. The Bon-Ton Stores, Inc. had 267 stores, which included 9 furniture galleries and 4 clearance centers, in 26 states. Other brand names operated by The Bon-Ton were Bergner'sBoston StoreCarson'sElder-BeermanHerberger's, and Younkers.

Bon-Ton announced on April 17, 2018 that, after 120 years of retail service, they would be closing doors and begin liquidating all 267 stores after two liquidators, Great American Group and Tiger Capital Group, won an auction bid for the company. The bid was estimated to be worth $775.5 million. Stores closed within 10 to 12 weeks, during which a liquidation sale was administered. The last store closed on August 29, 2018.


Operations in 2000s

In October 2003, The Bon-Ton expanded its reach into Ohio and the lower Midwest with the acquisition of the 69-store Elder-Beerman store chain. Following an attempt to convert to a privately held company, Elder-Beerman was offered more cash for its outstanding stock as part of the buyout. The chain operated as a separate banner until the company’s demise in 2018.

On November 25, 2003, Bon-Ton reported a net loss in the third quarter of $1.7 million, or $0.11 per share, including an asset impairment charge of $0.10 per share.

The Bon-Ton Stores chain doubled in size in November 2005 with the $1.1 billion purchase of the 142 stores of Saks' Northern Department Store Group, headquartered in downtown MilwaukeeWisconsin. Corporate headquarters remained in York, Pennsylvania, but merchandising headquarters were relocated to Milwaukee. As with the Elder-Beerman acquisition, no store names were changed in the transaction. The newly acquired store group included Carson Pirie Scott (now branded as Carson's), Bergner'sBoston StoreHerberger's, and Younkers.

In September 2006, The Bon-Ton purchased four former Parisian stores (plus one under construction) from Belk (which had just purchased the chain); the stores were located in Michigan, Indiana, and Ohio (outside Belk's traditional operating territory). The stores in Indiana and Ohio were immediately rebranded to Carson Pirie Scott[10] and Elder-Beerman, respectively. The three Michigan stores maintained the Parisian name until 2013, when they were rebranded to Carson's.

Final years of Retail Operations
 

The Bon-Ton's final years were marked with a string of financial losses and executive turnover.

From 2011 through 2017, the company did not post an annual profit. From 2011 through the company's bankruptcy, it had four CEOs[ and three CFOs. In December 2013, Mike Nemoir, senior vice-president, announced he would retire after four decades in the fashion industry at Bon-Ton and its predecessor companies on March 28, 2014. In May 2017, Tim Grumbacher retired after 50 years on the board of directors, and more than 25 as its chairman. He had also been Bon-Ton's CEO from 1985 to 1995 and held other senior management positions. Grumbacher's wife and fellow board member, Debra Simon, was elected to succeed him.

In fall 2016, Bon-Ton launched in-store and online "Close to Home" shops in 45 of its stores, selling locally sourced and locally themed products. In February 2017, the chain announced that it would expand these shops to at least 100 stores in 25 states and would partner with local designers, artisans and entrepreneurs in each market interested in selling their products in these shops.

The company's financial situation worsened rapidly in 2017, with same-store sales falling over 6% in both the second and third quarters. On May 5, 2017, Bon-Ton Stores was informed its common stock was no longer in compliance with NASDAQ listing requirements, and the stock was de-listed from the exchange on December 6. In November 2017, the company announced a store closure program, stating 40 to 45 stores would close after the holiday season.

Bankruptcy and liquidation

During the first quarter of 2018, The Bon-Ton announced it would be closing 42 stores in 14 states, in addition to five stores previously announced. However, it wasn't enough to save the company from its large debt.

On December 18, 2017, Bon-Ton Stores revealed it had failed to pay $14 million in interest that had been due December 15. The company entered into a grace period with its lenders. Analysis from Standard and Poors downgraded the company into selective default, and predicted a bankruptcy or out-of-court restructuring at the conclusion of the grace period.

In February 2018, The Bon-Ton Stores Inc. filed for Chapter 11 bankruptcy protection. The company had not made an annual profit since 2010.

On April 9, 2018, it was announced that Washington Prime Group and Namdar Realty Group would bid to save Bon-Ton from bankruptcy. On April 17, 2018, however, the plans fell through because the court ruled the company would not be able to pay a $500,000 "work fee".

On April 17, 2018, The Bon-Ton announced it would liquidate all 267 stores after The Great American Group LLC and Tiger Capitol Group LLC bid $775.5 million for the retailer and converting its Chapter 11 bankruptcy to Chapter 7. They acquired the inventory and other assets of the company and sold it all off. On August 30, Great America Group said all Pennsylvania locations were officially closed, and buildings would be vacated by the next day.

On September 1, 2018, it was reported that The Bon-Ton Stores, Inc-owned retail websites were updated with "Stay Tuned" messages and their respective brands were coming back. In early September 2018, it was also reported that CSC Generation Holdings agreed to be $900,000 for The Bon-Ton Stores's brand names, websites, social media accounts, and retail customer names, mailing addresses, and email addresses. Also, the cosmetics giant L'Oreal USA agreed to pay $313,000 to gain access to the names and addresses of The Bon-Ton Stores's beauty-product retail customers.
 



About The Bon-Ton Stores, Inc: The Company, The Bon-Ton Stores, Inc. is a Pennsylvania corporation and was founded in 1898. It is one of the largest regional department store operators in the United States, offering a broad assortment of brand-name fashion apparel and accessories for women, men and children. Our merchandise offerings also include cosmetics, home furnishings and other goods. As of September 2017, we operate 260 stores in 24 states in the Northeast, Midwest and the Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers nameplates, encompassing a total of approximately 24 million square feet.


The Bon-Ton Stores, Inc. Company Description

The Bon-Ton Stores Inc is a regional department store operator offering an assortment of brand-name fashion apparel and accessories for women, men and children as well as cosmetics, home furnishings and other goods. URL: www.bonton.com
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#1236  Sticky Note BONTQ will be cancelled. That is the LAW. 1manband 09/11/18 05:09:42 PM
#1345   We may see an attempt at roping in surfkast 11/21/18 07:07:09 AM
#1344   It looks like the story is winding down. 1manband 11/21/18 12:16:17 AM
#1343   Bon-Ton is in the BK P&D zone now. TKane 11/10/18 02:03:18 PM
#1342   Even if Bon Ton were to receive anything surfkast 10/31/18 05:45:38 PM
#1341   Bon-Ton being sued for Fixing TV Ad Rates TKane 10/31/18 08:50:18 AM
#1340   Agreed, comical and classic. Always happens with Qs. TKane 10/15/18 05:50:15 AM
#1339   Show us where Bon Ton (BONTQ) has money jet101 10/02/18 08:35:58 PM
#1338   Comical manipulation? surfkast 10/01/18 06:35:30 PM
#1337   Because the Stock market makes no sense. Newbies Harbor6460 10/01/18 05:43:16 PM
#1336   .....I sure had a few of them there ROCKY LEDGE 09/21/18 11:58:53 AM
#1335   Yes, just trade them. Garyst 09/21/18 11:57:55 AM
#1334   Been day trading this with another q. Missed ROCKY LEDGE 09/21/18 11:49:54 AM
#1333   BON-TON CREEPING UP HE HE SLEEPING FRIDAY !!!!!!!! lutmers 09/21/18 11:16:59 AM
#1332   Bon-Ton has no money, and they are not 1manband 09/20/18 01:53:08 PM
#1331   Bon Ton has money, and will reopen their billy spec 09/20/18 01:46:23 PM
#1330   How does anyone plan to sell there shares? Harbor6460 09/20/18 11:46:21 AM
#1329   BONTQ is not reopening anything. That is the 1manband 09/20/18 11:00:43 AM
#1328   NEWS 8000.com 20 sept.BON-TON MAY REOPEN STORES IN lutmers 09/20/18 10:56:31 AM
#1327   I am seeing novices losing their money. surfkast 09/19/18 01:57:18 PM
#1326   I'm seeing 07 -14% Garyst 09/19/18 01:54:19 PM
#1325   I'm seeing .0605 -26% Garyst 09/19/18 01:49:53 PM
#1324   If you wish. Garyst 09/19/18 01:49:11 PM
#1323   Front Loaders getting out on the backs of believers. surfkast 09/19/18 11:24:37 AM
#1321   I should buy??? Harbor6460 09/18/18 11:47:09 PM
#1318   Please listen Harbor6460 09/18/18 11:42:04 PM
#1317   Everyday I watch this stock I get Sick. Harbor6460 09/18/18 11:41:08 PM
#1316   Great day again! This may hit the recent Garyst 09/18/18 08:07:46 PM
#1315   BONTQ is worthless. The shares WILL be cancelled. 1manband 09/18/18 05:41:39 PM
#1314   Apparently no one believes that. Because this was Jasymoney1 09/18/18 05:38:18 PM
#1313   NHOD .08 GOOD DAYS AHEAD $$$$$$$$$ lutmers 09/18/18 03:14:32 PM
#1312   Hmmm, decently Green again. Nice day Garyst 09/18/18 03:03:12 PM
#1311   Extremely risky trading an empty shell ticker that surfkast 09/18/18 10:26:51 AM
#1310   Could see a pop to that level again. Garyst 09/18/18 10:17:28 AM
#1309   Bon Ton is now owned by a surfkast 09/18/18 10:12:08 AM
#1308   WE ARE SPRINTING AS FAST AS WE CAN lutmers 09/18/18 10:03:19 AM
#1307   THEY WORKING HARD NEW WEBSITE, NEW STORES BIG lutmers 09/18/18 09:45:35 AM
#1306   Great news just go back Above 0.14 and I Amber786 09/18/18 09:14:18 AM
#1305   https://www.tmj4.com/news/local-news/boston-stores-could-be-back-in-milwaukee-th Garyst 09/18/18 08:23:31 AM
#1304   But the point is BONTQ is a shell. surfkast 09/17/18 09:12:05 PM
#1303   Great catch! surfkast 09/17/18 09:09:40 PM
#1302   Nice move today. Garyst 09/17/18 08:56:29 PM
#1301   A Co I was in a few years Garyst 09/17/18 08:08:44 PM
#1299   The shares are worthless, as all the assets 1manband 09/17/18 04:10:15 PM
#1298   If all of our shares got canceled in goat money 09/17/18 04:05:38 PM
#1297   Nice 100% day on decent volume. Garyst 09/17/18 01:23:04 PM
#1296   That is not BONTQ. 1manband 09/17/18 12:36:35 PM
#1295   Great news! $BONTQ Lets gooo!!! $$$ nielsL 09/17/18 12:15:01 PM
#1294   Nice pop today Garyst 09/17/18 11:58:15 AM
#1293   NEWS FROM USA TODAY JORDAN VOLOSHIN PRESIDENT OF lutmers 09/17/18 11:36:15 AM
#1292   WE ANTICIPATE GETTING TO PROFITABILITY PRETTY QUICKLY !!!!!!! lutmers 09/17/18 11:33:05 AM
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