The Bon-Ton department store chain, which has more than 260 stores in 24 states including at the Mall in Lakewood, has been in bankruptcy with only two bidders – both liquidators – making offers for the business.
Sources familiar with the court-supervised auction say the chain will go out of business and be forced to liquidate. However, company officials have not yet commented on the future of the business.
Bon-Ton filed for bankruptcy in February.
The news comes after another national department store – Toys R Us – announced it was closing its doors. Locally, it also comes just three months after Sam’s Club announced it was closing several of its locations across the country, including the one in West Ellicott.