Bon-Ton Stores Likely Headed Toward Liquidation
We are hearing more and more of these stories lately about brick and mortar stores closing their doors with the convenience of online shopping. The Bon-Ton may be next.
According to a story in The Buffalo News, the end could be close for the Bon-Ton. An auction took place on Monday looking for bidders. There were two interested parties. Both of the interested bidders are liquidators.
While they were hoping the auction would bring a bidder to keep them in business, it looks as though that will not happen. It's kind of hard to do when the business hasn't turned a profit since 2010.
So what does that mean locally? Well...it means there will be some holes in plazas and malls here in Western New York.
Currently there are 8 Bon-Ton locations here including one at the McKinley Mall, who really cannot afford to lose another property.
Bon-Ton has stores in the Eastern Hills Mall, McKinley Mall, Chautauqua Mall, Olean Center Mall and the former Summit Mall, as well as in West Seneca, the Town of Tonawanda and Lockport.