The end appears near for The Bon-Ton Stores that operate seven retail nameplates, including Bergner's stores in Peoria, Pekin, Bloomington, and Champaign.
Liquidation firms Great American Group and Tiger Capital Group won the auction the court considered for approval Wednesday. A statement from Bon-Ton says the bankruptcy court was expected to approve "the sale and wind-down of the Company's operations."
The Bon-Ton Stores, Inc. was operating stores in 24 states, largely in the Northeast and Midwest, when it filed for bankruptcy in January. Peoria’s long-time Berger’s location at Sheridan Village was announced it would eventually close at that time.
Bergner’s was founded in Peoria by Peter Bergner in 1889. But today the Bergner’s at the Shoppes at Grand Prairie is the largest original retail anchor of the outdoor mall.
The 160-year-old Bon-Ton Stores are part of a larger group of retailers facing bankruptcy and store closings. Toys R Us is also closing its doors.
Click here to see The Bon-Ton Company press statement.