Bon-Ton has announced that it is closing three stores early next year.
The company 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 these leases, which terminate January 31, 2016.
Additionally, the company is closing its Bon-Ton store in the Carousel Center in Syracuse, New York, upon its scheduled February 28, 2016, lease termination. The closings will impact 58, 51 and 43 associates at the Huntington Mall, Lima Mall and Carousel Center locations, respectively.
Kathryn Bufano, president and CEO, Bon-Ton, said, “We actively review our store portfolio to ensure efficient asset utilization. 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. As a result of our performance reviews, we felt it prudent to close the aforementioned stores. We are very grateful for the dedicated Huntington, Lima and Carousel Center store associates and are committed to providing assistance to these associates.”
Bon-Ton operates 270 stores in 26 states under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates.