Liquidators Make Bids for Bon-Ton

Bon-Ton Continues day two of Auction

DULUTH, Minn. – On Monday Bon-Ton Stores Inc. only received bids from liquidators during its bankruptcy auction according to Reuters, signaling the possibility of closure for the retail giant.

The auction will continue through today with hopes of finding a buyer that can help turn the retail chains around.

When the auction is complete the next steps for the company will be to pick a winning bid which will then need to be approved by a judge in U.S. Bankruptcy Court.

If the winning bid is from a liquidator they can begin to sell off the acquired assets and inventory.

Whatever proceeds Bon-Ton Stores Inc. receives from the sale will go towards paying back what is owed to creditors.

Bon-Ton filed for Chapter 11 bankruptcy on February 4.