Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Great news just go back
Above 0.14 and I am okay. Taking too much losses in all my plays :(
But the point is BONTQ is a shell.
Great catch!
Too bad Boin Ton is now owned by a subsidiary of the tech company CSC Generation Holdings giving it the rights to Bon-Ton and its subsidiary department store chains, Boston Store, Bergner's, Carson’s, Elder Beerman, Herberger’s and Younkers.
BONTQ is is a shell with a ticker that will be cancelled.
A Co I was in a few years ago (SARAQ at the time) emerged from bankruptcy with their shares intact and has traded under SARA up until 2 weeks ago when they were suspended for delinquent filings and nothing relating to the bankruptcy. Anyone that posts that it is a for sure thing shares are cancelled is not 100% accurate. While most do get cancelled, there are a few that do remain. Not many though. The shares here will trade until the final Order is out by the Judge and the case is concluded. At that time is when if the shares are cancelled they will cease trading. Until that day this will trade. Whether the case is concluded in days or 5 years; I have no idea.
The shares are worthless, as all the assets have been liquidated, with the bulk of them (stores, inventory, real estate) being sold in April.
Read the SEC's bulletin on bankrupt stocks:
https://www.sec.gov/reportspubs/investor-publications/investorpubsbankrupthtm.html
"A company's securities may continue to trade even after the company has filed for bankruptcy under Chapter 11. In most instances, companies that file under Chapter 11 of the Bankruptcy Code are generally unable to meet the listing standards to continue to trade on Nasdaq or the New York Stock Exchange. However, even when a company is delisted from one of these major stock exchanges, their shares may continue to trade on either the OTCBB or the Pink Sheets. There is no federal law that prohibits trading of securities of companies in bankruptcy.
Note: Investors should be cautious when buying common stock of companies in Chapter 11 bankruptcy. It is extremely risky and is likely to lead to financial loss. Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares. In most instances, the company's plan of reorganization will cancel the existing equity shares. This happens in bankruptcy cases because secured and unsecured creditors are paid from the company's assets before common stockholders. And in situations where shareholders do participate in the plan, their shares are usually subject to substantial dilution."
BONTQ has nothing left. When the bankruptcy is confirmed and closed, the BONTQ common shares will be cancelled.
If all of our shares got canceled in April, WTH is being traded???
That is not BONTQ.
Those assets, including the new websites, are owned by the new owner, CSC.
BONTQ has nothing to do with them. BONTQ shares are worthless, and will be cancelled shortly.
NEWS FROM USA TODAY JORDAN VOLOSHIN PRESIDENT OF THE NEW BON-TON. FRESH WIND $$$$$$$$$$$$$$
WE ANTICIPATE GETTING TO PROFITABILITY PRETTY QUICKLY !!!!!!!
NEW WEBSITES LAUNCHED OVER THE WEEKEND BON-TON NAME BACK IN BUSINESS $$$$$$$$
A subsidiary of the tech company CSC Generation Holdings told USA TODAY that it has signed a deal giving it the rights to Bon-Ton and its subsidiary department store chains, Boston Store, Bergner's, Carson’s, Elder Beerman, Herberger’s and Younkers.
BONTQ, massive enormous run! MONSTEROUS, people made out with hundreds and thousands of dollars here.
Unfortunately, the show is over. Commons will get cancelled.
It was an orchestrated run-up to cash out before the curtains close for good.
McThompson. Out.
Investors learning?
The stock is worthless. It is going nowhere.
Do you realize the Court Approval is to transfer the final assets of BONTQ to a NEW OWNER? BONTQ and BONTQ shareholders have no part of the new stores or anything that happens with Bon Ton from here on out.
It is over. BONTQ is worthless.
Load Up on any downticks!!! The COURT APPROVAL NEWS ANYDAY NOW~
BONTQ will hit $.0.20 on NEWS!
https://lancasteronline.com/business/local_business/indiana-firm-completes-bon-ton-asset-purchase-plans-to-revive/article_015dd2c0-b523-11e8-889d-03fc966618d8.html
A U.S. Bankruptcy Court judge on Monday approved an Indiana company’s proposed purchase of The Bon-Ton’s brand names and customer data for $900,000.
If Woody would have went straight to the police,none of this would have ever happen. Lolll
What happened?? Someone dumped on everyone?
It appears that there are enough smart investors staying away from this shell instead of having dreams of grandeur and then lose everything when they wake up.
BONTQ was NOT tweeting up to 2 weeks ago. That account went with the Asset sale back in April. Those tweets were from the NEW OWNERS, not BONTQ.
The proof is in the asset purchase agreement which was filed with the SEC. But I am sure everyone who recently bought BONTQ stock has already read it, but I will include the specific clause for those that haven't.
"consistent with the Wind-Down Budget, to be provided by Merchant with central office facilities, central administrative services and personnel to process and perform Central Services and provide other central office services reasonably necessary for the GOB Sale; (ii) to use reasonably sized offices located at Merchant’s central office facility to effect the GOB Sale; and (iii) to use all customer lists, mailing lists, email lists, and web and social networking sites utilized by Merchant in connection with its business (to the extent such items can be segregated to the Stores and solely in connection with the GOB Sale and pursuant to such reasonable restrictions requested by Merchant in order for Merchant to comply with its privacy policy and applicable laws governing the use and dissemination of confidential consumer personal data);consistent with the Wind-Down Budget, to be provided by Merchant with central office facilities, central administrative services and personnel to process and perform Central Services and provide other central office services reasonably necessary for the GOB Sale; (ii) to use reasonably sized offices located at Merchant’s central office facility to effect the GOB Sale; and (iii) to use all customer lists, mailing lists, email lists, and web and social networking sites utilized by Merchant in connection with its business (to the extent such items can be segregated to the Stores and solely in connection with the GOB Sale and pursuant to such reasonable restrictions requested by Merchant in order for Merchant to comply with its privacy policy and applicable laws governing the use and dissemination of confidential consumer personal data);
https://www.sec.gov/Archives/edgar/data/878079/000095014218001037/eh1800625_ex9903.htm
There is nothing left of BONTQ. Everything has already been sold.
Bon-Ton was tweeting as recent as 2 weeks ago if you recall. Yes, it was on their site!
The TICKER will trade until it is revoked. Not much left for the case to happen.
BONTQ is an empty shell whose ticker is trading.
All asserts have been sold off.
"More" updates from the Company? How can there be more when there have been NONE? The Company is defunct. There are no updates to give, and no one to give them. So to claim "more" is impossible.
BONTQ is dead, and there is no chance of it coming back.
Not that far off the closing high of .12 area last Fri
We just have to wait for more updates from the company
Yeah I've noticed that...That's very good to see
The last couple days it has risen throughout the day off the AM lows.
Didn't think we'd close above $.08 today
Fact is Q tickers trade until the culmination of the Bankruptcy case and a final Order comes out. They always have and the most likely always will. The SEC makes those rules. Not you or I.
This should be suspended and the promoters should be indicted.
This is just a worthless shell with a ticker.
This may actually break last Friday's close of .12 yet this week.
Managed to rise the Green!
CSC owns the stores and name now. NOT BONTQ.
BONTQ has nothing. If stores are actually reopened, they will have nothing to do with BONTQ, and BONTQ shareholders will not participate in any way.
That is what "New Owners" means. The brand, and rights to the stores, are now 100% owned by someone else, not BONTQ. CSC bought it for $900,000 through the bankruptcy court, which says a lot about the total value, doesn't it?
https://www.msn.com/en-us/news/msn/after-closing-its-stores-bon-ton-is-ready-for-its-comeback-as-new-company-buys-its-brand/ar-BBMW67n
"Bon-Ton, the bankrupt retailer that shut its stores last week after being in business for over 100 years, is poised to reopen now that a new owner has scooped up its brand.
I suggest you read the actual legal filings instead of listening to unfounded and non-factual rumors.
BONTQ sold all their assets through the Federal bankruptcy court. They are all gone. There is nothing but about a billion dollars in debt that cannot be repaid. Therefore, the bankruptcy court will dismiss the remaining unpaid debt and cancel the equity (common shares) upon conclusion of the bankruptcy.
All this information is publicly available to anyone for free. There is a damn good reason why the stock was trading for $0.002 last week - the street KNOWS the stock is worthless and will be cancelled, and the stock price reflected that fact.
The stock is going to be cancelled without any payment to shareholders. The "revival" of Bon-Ton is by the NEW OWNERS, and does not involve BONTQ in any way whatsoever. Anyone left holding BONTQ shares upon the conclusion of the bankruptcy will lose 100% of their investment, guaranteed.
Looks like csc will buy bontq shares, or be a partner, and if not no deal, I think we as shareholders are in the driver's seat.
Learn to do better DD on bankruptcy??????????????
It’s so funny how one day everyone talks about how this stock will spike up and next day when it’s going back down. Ppl say oh it’s got no asset left. I am confused and lost so much more. Why can’t I ever get on train that actually moves
CSC Generation Holdings is the new owner. BONTQ is just a ticker with no connection to the new owner.
Followers
|
26
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
1360
|
Created
|
03/28/12
|
Type
|
Free
|
Moderators |
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 Milwaukee, Wisconsin. 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's, Boston Store, Carson's, Elder-Beerman, Herberger'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.
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 Milwaukee, Wisconsin. 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's, Boston Store, Herberger'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.
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.
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.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |