US department store chain Bon-Ton files for bankruptcy
It is on track to shutter 47 stores across the country, mostly in Illinois, Indiana, Pennsylvania and Wisconsin
New York
BON-TON Stores Inc said on Sunday that it filed for bankruptcy protection to restructure its debt and explore a potential sale, making it the first major US brick-and-mortar retailer to do so this year.
Department store operators have been struggling to fend off online sellers such as Amazon.com Inc as shoppers increasingly choose to shop over the Internet, resulting in a decline in mall footfalls.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue
Nestle sales growth sputters on US slump, vitamin snags
Hermes Q1 sales jump 17% on strong China demand
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO