The Associated Press
Bon-Ton soon will close all its stores.
Bon-Ton’s bankruptcy auction began Monday and the company announced Tuesday it received a winning bid from liquidators, Great American Group and Tiger Capital Group, which will acquire the inventory and certain other assets.
The U.S. Bankruptcy Court is expected to approve the winning bid on Wednesday.
Throughout the court-supervised asset sale process, Bon-Ton’s stores, e-commerce and mobile platforms will remain open throughout closing sales.
Bon-Ton, which has more than 250 stores in 23 states, has been in Chapter 11 bankruptcy since early February.
The chain has about about 20,000 employees around the country. Its corporate headquarters are in York, Pennsylvania and Milwaukee, Wisconsin.
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