Bon-ton stores officially headed to liquidation
SUPERIOR, Wis.- Its official, Bon–Ton stores is headed to liquidation, wiping out more than 200 stores nation wide, including the Younkers in Superior and Duluth.
The department store chain originally only planned to close forty of its stores, but failure to compete with online retailers like amazon forced the company into debt and to file for bankrupcy.
We’ve seen this happen before, major stores going out of business leaving mall owners with a giant gap in their buildings and numerous people unemployed.
“I’m not surprised what is happening these days to the big box stores making those decisions, of course the people who are working the retail sector they have to look for jobs” said UWS Economics Professor, Sakib Mahmud.
While this news is upsetting to many, the UWS professor believes there may be some positive outcomes saying this will make the think of new ways to diversify the economy.
“What are the areas where we can come up with that kind of experience where not only the older couples, but I’m talking about generation Z and the millennials would be excited to go have some unique experience and buy stuff and come back.”
The professor believes the city should consider average incomes in the area when deciding which local shops should be brought in and making sure those shops have an online presence
Online shopping is a dominant force in america right now.
But as the city of Duluth always stresses, shop local when you can, if you want to see your local brick and mortar businesses stay in business.