US-based department store chain The Bon-Ton is planning to close 42 locations across the country as part of its store rationalisation programme.
The closures are set to begin from this month and are expected to run for approximately ten to 12 weeks.
Go deeper with GlobalData
This move follows a previous announcement of five store closures, taking the total to 47 stores closed by the end of this year.
The company noted that staff affected by store closures will be offered the opportunity to interview for positions at other store locations.
Bon-Ton president and CEO Bill Tracy said: “As part of the comprehensive turnaround plan we announced in November, we are taking the next steps in our efforts to move forward with a more productive store footprint.
“Including other recently announced store closures, we expect to close a total of 47 stores in early 2018. We remain focused on executing our key initiatives to drive improved performance in an effort to strengthen our capital structure to support the business going forward.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataBon-Ton is reported to have partnered with third-party liquidator Hilco Merchant Resources, which will be assisting Bon-Ton in managing the closures.
Tracy further added: “We would like to thank the loyal customers who have shopped at these locations and express deep gratitude to our team of hard-working associates for their commitment to Bon-Ton and to serving our customers.”
