Bon-Ton bid appears to be falling short

Bon-Ton bid appears to be falling short

Other Boston Stores in the state operated by Bon-Ton are located at Brookfield Square west of Milwaukee, at Grand Avenue and Southridge malls in Milwaukee, at Mayfair Mall in Wauwatosa, Bayshore Mall in Glendale and at Regency Square in Racine.

Reuters reported Tuesday that money raised from the auction will be used to repay what is owed to Bon-Ton's creditors.

As of late Monday, the auction had not concluded, according to four sources who spoke to Reuters.

A new report from Reuters indicates the end is likely near for both Younkers and Herberger's. Boston Store, for example, was founded in 1897, and Younkers in 1856.

A Bon-Ton spokesperson was not immediately available for comment on the auction.

Bon-Ton operates two Younkers stores in Omaha at Oak View and Westroads Malls and one at Gateway Mall in Lincoln.

But U.S. Bankruptcy Judge Mary Walrath said last week she would not approve that payment, noting Bon-Ton was not paying the fees of any other bidders and that the offer from the investor group did not amount to a qualified bid.

Bon-Ton is a regional chain of almost 200 stores.

Once the deal is approved by the U.S. Bankruptcy Court in Wilmington, Delaware, the liquidation firm can begin going-out-of-business sales.

We are hearing more and more of these stories lately about brick and mortar stores closing their doors with the convenience of online shopping.

Bon-Ton filed for bankruptcy in February, and had been working with a would-be bidder - a combination of two mall owners Namdar Realty Group and Washington Prime Group - that might have kept its stores open in many of its locations.

If it does go out of business, it would be the second big-box chain to close Lincoln stores this year.