Bon-Ton to convert Mich. Elder-Beerman store

YORK, Pa. Bon-Ton today announced real estate initiatives regarding its Elder-Beerman stores located in Muskegon, Mich. and Morgantown, W. Va.

According to Bon-Ton, the Elder-Beerman department store in Muskegon, Mich. will be converted into a furniture gallery. Construction on the 52,000 square foot gallery is expected to begin in March 2008 with the completion scheduled for the end of July 2008. The furniture gallery will operate under the Younkers nameplate. Bon-Ton said it will continue to operate its Younkers full-line department store at The Lakes Mall location.

The company reported that most, if not all, of the affected associates will have opportunities in expanded positions in the Younkers Lakes Mall store and the newly created furniture gallery. If the company is unable to place an affected associate in another position, the associate will receive career transition benefits, including severance according to established practices, and state employment service support.

In addition, Bon-Ton will close its 71,000 square foot Elder-Beerman Morgantown East store located in Morgantown, W. Va. The leasehold interest in the Morgantown East location was acquired by Bon-Ton in 2003 as part of the Elder-Beerman acquisition. The lease, which is expiring Jan. 31, 2008, has not been renewed. The closing will impact approximately 36 associates. The closing costs for this location will not be material. The store is scheduled to close by the end of January 2008.

The affected associates at the Elder-Beerman Morgantown East location will be provided an opportunity to consider available opportunities at the Morgantown Mall store or receive career transition benefits, including severance according to established practices, and state employment service support.