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Struggling department store chain to replace CEO
There’s been a shakeup at Bon-Ton Stores. The department store retailer announced that Kathryn Bufano, president and CEO, will leave the company when her contract expires on August 25. She will be succeeded by William Tracy, currently the retailer’s COO. He will be Bon-Ton’s fourth chief executive since 2012. -
Department store retailer hires debt advisor
Hudson’s Bay Co. has brought in professional advice regarding its potential merger with Neiman Marcus. The Canadian department store company has hired a debt restructuring adviser, investment bank Evercore Partners Inc., to review the potential acquisition and provide Hudson’s Bay Executives with ways on how it could proceed without Hudson’s Bay assuming Neiman Marcus’ full debt, according to a Reuters report on CNBC.com.