The company said about 42 store closures could occur this year, and three stores could be sold to other owners. The worst performing stores were located in dying malls and were “suffering from overwhelming competitive pressures,” according to Bon-Ton. Another 20 or more stores could be added to Bon-Ton’s “watch list” of failing stores, which would then be monitored for “signs of further deterioration.”
Bon-Ton could also reduce the number of distribution centers from three to two, shutting down its facility in Fairborn. It would save the company nearly $2 million in payroll.
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