"While we are disappointed with the outcome of the Bon-Ton bankruptcy proceedings, we are confident that we can redeploy the inventory and fixtures from these stores to new locations as we continue to service both our existing USA retail network and potential new partners alike", said Fred Mannella, Vice Chairman and Chief Development Officer, LXRandCo.
The company said in a news release Thursday night that it expects its stores to close within about 10 to 12 weeks, but cautions that the time frame could be longer or shorter for any individual store, depending on sales and inventory levels.
The owner of Herberger's will close all six Montana stores and liquidate its assets as part of a bankruptcy process set to begin this week.
All of this comes one day after a US bankruptcy court approved an agreement allowing for the liquidation of the company.
Returns will be accepted for the next 10 days, but after that all sales are final.
The victor of the auction was a joint venture between noteholders, Great American Group LLC, and Tiger Capital Group, LLC - two firms known for liquidating businesses.
Opposition motion a 'revenge' petition, says Arun Jaitley
The court, while commenting on the matter, said that things which happened in recent days is disappointing. The power of impeachment under our Constitution is a part of an inter-institutional accountability.
Bon-Ton stores will shut down by the end of August. Its headquarters are in York, Pa., and Milwaukee.
The chain, which operates 260 stores in 24 states, largely in the Northeast and Midwest, made the filing in the U.S. Bankruptcy Court for Delaware.
We first told you on Wednesday, Carson's will leave Honey Creek Mall.
"The trend has been steady, within a few hundred jobs, for the last 10 years", said Dietmeier, who speculated that the impact of store closings has been muted by increased hiring among remaining retailers who are focusing more on customer service in response to the growth in online shopping.
"We are now evaluating several redevelopment scenarios for the Macy's building at Honey Creek and have interest from several perspective tenants and uses", Keating said. "We will announce more information as plans are finalized", she said.
"CBL has a long track record of successfully replacing or redeveloping anchor locations", Keating said.