Daily Trends Now
Daily Trends Now

Younkers closing across MI as malls lose their anchor stores

Younkers closing across MI as malls lose their anchor stores

"The closure of Herberger's has been on our radar for some time", said Alissa Adams, senior vice president of marketing and business development for the West Acres Mall in Fargo, commenting on fallout from the bankruptcy of Bon-Ton Stores. In the eastern part of the state, it operates stores in Saratoga Springs, Queensbury and Newburgh. Those stores are now in liquidation and will close within the next month.

But when the bidding opened, reports indicate the only firms offering bids were liquidators. The auction began Monday, wrapping up on Tuesday.

The Bon-Ton Stores, with corporate headquarters in New York, Pennsylvania and Milwaukee, Wisconsin, has 250 department stores in the U.S. Each will go out of business. That interest, announced April 9, was unsuccessful.

Mays said some who lose their jobs when the stores close might be able to find jobs at other retailers. Some stores could be open longer if their merchandise takes longer to move.

Q: Can I still use merchandise credits (store credits, return credits)? "We hope the mall can do something to get something back in there".

The mall launched a "Thank you for shopping locally" campaign previous year to educate the public about the impact of shopping out of town and online.

The process began in early 2018 when Bon-Ton announced it was shuttering over 45 locations across the country because the company filed for Chapter 11 financial restructuring.

According to Reorg Research, a research firm based in NY, it was revealed that the winning bid was valued at $775.5 million.

At least one other Zamias property - Indiana Mall in Indiana, Pa. - also leases to a Bon-Ton store, according to the mall's website.

As of Thursday, the mall hosts more than 20 businesses and eight vacant storefronts.

Bon-Ton stores will shut down by the end of August. Recent closings include Rue 21 clothing store, Seasons Bookstore & Gifts and Subway. Tops Markets LLC filed for Chapter 11 reorganization on February 21.

The closing will leave two big-box retail spaces vacant at the Honey Creek Mall, which last month saw the closure of Macy's.


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