Bon-Ton Stores closing three stores
The Bon-Ton Stores announced it will close its Elder-Beerman stores in the Huntington Mall in Huntington, West Virginia and the Lima Mall in Lima, Ohio. The retailer said it will not renew the stores’ leases, which terminate January 31, 2016.
Additionally, Bon-Ton is closing its namesake store in the Carousel Center in Syracuse, New York, upon its scheduled lease termination on February 28, 2016.
The company said it does not expect costs associated with the closing of the locations to be material.
"While decisions to close stores are not taken lightly, closings are part of ongoing real estate initiatives in which we strategically conclude operations at underperforming locations, enabling us to redirect capital into more profitable and productive assets,” said Kathryn Bufano, president and CEO.
The Bon-Ton Stores operates 270 stores, which includes nine furniture galleries and four clearance centers, in 26 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers nameplates.