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Lewistown, PA Store to RE-OPEN??? Before Sept. 20th????
Hmmmmm
Excellent strong today. More to come.
Nearing the high of the day here now other than the very opening level
Doing good my friend =)
How is everybody doing today..?
I needed that reminder
The website is no longer owned by BONTQ. It is now owned by CSC.
Why is this so difficult to understand? All the assets are now owned by another company. It has NOTHING to do with BONTQ, which is liquidated. There is nothing left.
IF CSC does bring back the Bon-Ton name, either online or in physical stores, it is 100% owned by CSC. BONTQ is not involved in any way and BONTQ shareholders will not be involved.
BONTQ is completely worthless, as all the assets are now gone. All that is left is massive amounts of debt they cannot repay, which means the common shares will be cancelled at the conclusion of the bankruptcy.
Anyone holding BONTQ shares will lose 100% of their investment. Guaranteed.
“(Our company) intends to operate an ecommerce and bricks and mortar business under the same nameplates (as the bankrupt Bon-Ton used), selling many of the same categories of goods,” said Yoshimura.
https://lancasteronline.com/business/local_business/indiana-firm-completes-bon-ton-asset-purchase-plans-to-revive/article_015dd2c0-b523-11e8-889d-03fc966618d8.html
WEBSITE GOING LIVE SOON!!!! STAY TUNED IN
On Monday, U.S. Bankruptcy Judge Mary Walrath signed orders approving those sales.
https://www.bizjournals.com/milwaukee/news/2018/09/10/judge-signs-orders-approving-sale-of-bon-tons.html
I don’t criticize anyone or their way of trading
I just express my opinion at the very moment
Well it certainly wouldn't hurt my feelings if my lotto ticket turned into a winner...lol
I’m here because I got caught the same way as you did
Exactly
I am not any kind of paid basher but ...that’s all they are worth...$900 000
We have good support around .06 which is what I personally wanted to see. I think this will be more than a lotto play, CJ.
I foresee an epic run similar to the one last week. Just needs volume and she's off to the races.
Thursdays run was under 10Mil volume. I want to see what pps does when she has 50+Milliom volume day.
We're all good here imo
-Discipline
A judge signed off Monday on the sale of The Bon-Ton Stores Inc.’s intellectual property.
By Sari Lesk – Reporter, Milwaukee Business Journal
Sep 10, 2018, 4:42pm
The department store chain, which had corporate offices in Milwaukee, closed the doors at its retail operations at the end of August after liquidating its merchandise. Great American Group, which conducted the going-out-of-business sales, said late last month that Bon-Ton's intellectual property was in the process of being sold.
Bankruptcy court filings reveal that CSC Generation, a technology platform, was the successful bidder to buy the defunct retailer’s intellectual property assets. The purchase includes the registrations to social media accounts and their content, along with customer data and databases. CSC would pay $900,000, according to the purchase agreement.
CSC is acting through its affiliate, The Bon-Ton Holdings Inc.
L’Oreal USA, meanwhile, agreed to purchase the customer and transactional data for Bon-Ton's beauty, cosmetics, hair care, skin care and fragrance customers. That purchase came with a price tag of $312,900, an agreement shows.
On Monday, U.S. Bankruptcy Judge Mary Walrath signed orders approving those sales.
https://www.bizjournals.com/milwaukee/news/2018/09/10/judge-signs-orders-approving-sale-of-bon-tons.html
I stated sell off Monday / Tuesday on Friday. Charts sometimes don't lie lol. The best you can hope for is a another dead cat bounce as coordinated by these trading groups/pump crews to get out but this can go to free fall very easy. Not in this play and don't intend to be. Glta
Well
Another write offfffff
I'm holding my shares here as a lotto ticket but at this point there's really not too much to post until the company or the Bankruptcy Court gives us some information or better direction from the company.
Sure looks to be that way.
Stock and board are dead.
...sky rockets in flight....afternoon delight!
$BONTQ
Thanks!!!
Those statements are not true. Just like Wikipedia, Investopedia is often wildly inaccurate.
Read this instead. The SEC's bankruptcy basics:
https://www.sec.gov/reportspubs/investor-publications/investorpubsbankrupthtm.html
"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."
Chapter 11 is just an initial designation. It permits reorganization, but it is not guaranteed. A very large percentage of Chapter 11 cases end up in total liquidation. That is what BONTQ has done. Its assets are now all gone.
The Common shares WILL be cancelled at the conclusion of the bankruptcy. Guaranteed.
Chapter 11?
https://www.investopedia.com/ask/answers/10/stock-holder-lose-equity-chapter-11.asp
Filing for Chapter 11 Bankruptcy
Obtaining Chapter 11 bankruptcy protection simply means that a company is on the verge of bankruptcy, but believes that it can once again become successful if it is given an opportunity to reorganize its assets, debts and business affairs. Although the Chapter 11 reorganization process is complex and expensive, most companies (if given the choice) prefer Chapter 11 to other bankruptcy provisions such as Chapter 7 and Chapter 13, which cease company operations and lead to the total liquidation of assets to creditors. Filing for Chapter 11 gives companies one last opportunity to be successful.
While the firm is in Chapter 11, its stock will still have value, but there is a temporary trading freeze. Although the stock will be delisted, over the counter (OTC) trading may still occur. In other words, the equity a broker has invested in the firm is not valued at zero, but their true value cannot be easily determined since the shares are no longer publicly traded. When a company that is going through bankruptcy proceedings is listed on the pink sheets or OTCBB, the letter "Q" is added to the end of the company's ticker symbol to differentiate it from other companies.
*sry.. can not dilute...
BONTQ
A Q stock and not dilute..
Try again??
No, that is not how bankruptcy works.
The common shares WILL be cancelled. Guaranteed. The Company has already liquidated all of its assets, and is about $1 billion short of the money it owes to its debtors and creditors. That is it - there is no more assets or money to be found. BONTQ is now empty, and upon the conclusion of the bankruptcy, the remaining debts will be discharged and the equity (BONTQ common shares) will be cancelled.
That is how bankruptcy works BY LAW. Common shareholders will be wiped out. The law does not permit any other outcome.
Dilution Yes
Cancelation No
Shareholders have ownership in the company as well.
Nice green shell with no assets.
Any revival will be owned by the new owners who would beneifit.
BONTQ owns nothing.................
It is an empty shell.
Learn bankruptcy laws...................
NICE GREEN day today.
WRONG - THE RESURRECTION OF BONTQ IS GUARANTEED!!!
CHECK BACK LATER - THX
Other than the few minutes of Red; never went back from Green all day. In fact, a 100% reversal off the AM low when it hit .11
https://www.inforuptcy.com/filings/debke_172109-1-18-bk-10248-bon-ton-stores-inc
500-1B liabilities
Not worth it. Commons will get cancelled through this deal.
The death of BONTQ IS GUARANTEED.
Bankruptcy is a legal process, and BONTQ has already liquidated all of its assets. There is nothing left but about $1 billion in unpaid debt. Which means there is no reorganization, and common shareholders get nothing.
BONTQ shares will be cancelled without any payment to common shareholders. The stock is going to zero.
As far as I'm concerned death and taxes are the only things that are guaranteed...
BONTQ.. NOTHING IS GUARANTEED HERE..
No, that is not happening. BONTQ has already liquidated all of its assets. There is nothing left but massive amounts of debt which BONTQ cannot pay. The asset sales raised less than $800 million, while they owe over $1.5 BILLION. And BY LAW, common shareholders only receive what is left after debtors and creditors are paid 100% of what they are owed. Which means there is zero chance that common shares will remain intact. They will be cancelled.
All of this is (and should be) public knowledge. The stock is worthless and it is not coming back.
BONTQ WILL be cancelled, and there will be no payment to common shareholders. Guaranteed.
Q can be removed, oir you can get out of bk, it is not overe till we find out he facts, and the courts must rule on these changes and actions of new buyer csc, so hold on to your shares if you are down a lot of money, if you can squeeze out a profit from last week you should sell.
Well, we will have another good laugh when the shares are cancelled and worthless.
You have been spot on with your knowledge of bankruptcies.
Sadly, some will never learn.
I'll tell my trading account that..
Carry on
That is not how bankruptcy works. The stock WAS trading at pretty much zero until people misunderstood the news from CSC and thought it had something to do with BONTQ. It doesn't. That was the last remaining asset of BONTQ and was sold for just $900K. That is all the Bon-Ton name (and website, which is also now owned and controlled by CSC) are worth.
The stock will be cancelled upon conclusion of the bankruptcy. Until then, expect the stock price to return to near zero before it gets cancelled.
GM traded shares for some value for months after they announced they would be cancelled and common shareholders would be completely wiped out. A lot of people just don't read the filings and end up losing everything.
The same will happen here with BONTQ. People really should not only read the BONTQ filings (both with the SEC and the bankruptcy court), but also the SEC information about 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."
Bon Ton has no assets. All the leases and property were sold in April.
BONTQ has nothing left. It is worthless.
Not true, if they owned all assets, then stock would treade at 0.
Bon Ton has assets, and is getting money 900,000 for selling name and rights to Bon Ton, but I think since they are still trading, and have not sold all leases, and property, we could b sitting on a gold mine, I think that deals are being worked out, and sonme stores , or internet sales will be owned by bontq, so lets wait till the end, this is a company that could be out of bk soon.
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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.
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