Bon-Ton news and archive

Bon-Ton stores may be headed to liquidation

American department store chain Bon-Ton may be forced to go into liquidation after a judge ruled it cannot be protected from bankruptcy and project a potential buyer. Bon-Ton, which operates 256 regional stores and is one of the US' largest store operators, filed for chapter 11 in February. Several companies offered to buy the ailing business,...

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Bon-Ton names Michael Culhane Chief Financial Officer

The Bon-Ton Stores has appointed Michael Culhane to the position of Executive Vice President, Chief Financial Officer of the company, effective immediately. The company said, Culhane will be responsible for accounting, treasury, tax, credit, investor relations, legal and internal audit. He succeeds Nancy Walsh, who is leaving the company...

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Retail

Bon-Ton misses 14 million dollar interest payment

Bon-Ton Department Stores Inc. said in a filing with the Securities and Exchange Commission that they will be using a 30-day grace period to delay a 14 million dollar interest payment on a loan. The payment was due last Friday. Bon-Ton, which is the parent company of several department stores throughout the United States, including Boston Store...

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Bon-Ton amends credit facility to sail through the holiday season

Struggling retailer Bon-Ton has amended its 880 million dollars ABL Tranche A and Tranche A-1 credit facility, providing the company with immediate flexibility and substantial additional liquidity under its current credit facility, just before the crucial holiday season. In a press release, Nancy Walsh, Bon-Ton's Executive Vice President and...

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Business

Bon-Ton hires Alix Partners to advise on turnaround plans

U.S. department store operator Bon-Ton has hired consulting firm AlixPartners to provide operational advice regarding its turnaround efforts. Meanwhile, PJT, a restructuring advisory firm, looks into the refinancing of the company’s debts. After global investment bank PJT drafted the preliminary plan for Bon-Ton to focus on refinancing its debt...

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Bon-Ton hires Alix Partners to advise on turnaround plans

U.S. department store operator Bon-Ton has hired consulting firm AlixPartners to provide operational advice regarding its turnaround efforts. Meanwhile, PJT, a restructuring advisory firm, looks into the refinancing of the company’s debts. After global investment bank PJT drafted the preliminary plan for Bon-Ton to focus on refinancing its debt...

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Bon-Ton ropes in Nancy Walsh as Executive VP and CFO

Bon-Ton Stores has appointed of Nancy A. Walsh to the position of Executive Vice President and Chief Financial Officer of the company, effective November 9, 2015. Walsh will have responsibility for accounting, treasury, tax, credit, investor relations, legal and internal audit. Commenting on Walsh's appointment, Kathryn Bufano, President and...

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