Struggling department store company delisted
Things aren't looking up at The Bon-Ton Stores Inc.
The retailer has been delisted from the NASDAQ stock exchange after multiple warnings this year that its shares were not meeting the requirements for continued listing, the Central Penn Business Journal reported.
The Bon-Ton posted a loss of $33.2 million for its most recent quarter; same-store sales fell 7%. The company has been in the process of restructuring its finances to repay debt and improve its overall liquidity. But it may not be able to avoid a bankruptcy filing, the report said.
The Bon-Ton, with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 260 stores, which includes nine furniture galleries and four clearance centers, in 24 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder- Beerman, Herberger's and Younkers banners.
To read more, click here.
The retailer has been delisted from the NASDAQ stock exchange after multiple warnings this year that its shares were not meeting the requirements for continued listing, the Central Penn Business Journal reported.
The Bon-Ton posted a loss of $33.2 million for its most recent quarter; same-store sales fell 7%. The company has been in the process of restructuring its finances to repay debt and improve its overall liquidity. But it may not be able to avoid a bankruptcy filing, the report said.
The Bon-Ton, with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 260 stores, which includes nine furniture galleries and four clearance centers, in 24 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder- Beerman, Herberger's and Younkers banners.
To read more, click here.