Court approves Bon-Ton sale

(File photo)

A bankruptcy judge approved on Wednesday the sale of The Bon-Ton Stores Inc. to a group that plans to liquidate the retailer’s assets.

The bid by the group, which includes creditors and two liquidation specialist firms, is estimated to be worth $775.5 million, according to Reuters, which cited unnamed sources.

The court order allows the bidders – Great American Group LLC, Tiger Capital Group LLC – to conduct going-out-of-business sales at Bon-Ton stores. The company, which has dual headquarters in York County and Milwaukee, operates about 240 stores in 23 states under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers banners.

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