Younkers stores could shutter across Iowa as part of bankruptcy

Younkers stores could shutter across Iowa as part of bankruptcy

The company's stores include Carson's, Younkers, Elder-Beerman, Bergner's, Boston Store, and Herberger's, as well as Bon-Ton.

A report by Reuters Tuesday morning says that only two liquidators were present for Monday's court-supervised bankruptcy auction in Wilmington, Del.

As of late Monday, the auction had not concluded, according to four sources who spoke to Reuters.

Multiple media outlets - including the Des Moines Register and KCRG in Cedar Rapids - are reporting that the pending liquidation of Younkers will lead to the closure of a number of the company's department stores in Iowa.

Now there are 8 Bon-Ton locations here including one at the McKinley Mall, who really can not afford to lose another property.

Two mall owners teamed up to make a bid to keep the stores going.

Ada police officers honored with life-saving award
Police arrived on-scene and made contact with the victim who said their vehicle was hit with a rock while driving down the street. Later that night, investigators were notified that yet another person had reported the same type of incident to police.

One liquidator group estimated their initial bid was worth about $650 million, according to a creditor representative who spoke to Reuters.

But U.S. Bankruptcy Judge Mary Walrath said last week she would not approve that payment, noting Bon-Ton was not paying the fees of any other bidders and that the offer from the investor group did not amount to a qualified bid. There is also a Younkers store in Duluth.

The group signed a letter of intent to purchase Bon-Ton at the bankruptcy auction, outlining the terms of a deal that would have kept the current management team in place and the business operating.

Sports Authority Holdings Inc, apparel chain The Limited Stores LLC and electronics seller hhgregg Inc are among the chains that have gone out of business recently.

Bon-Ton is a regional chain of almost 200 stores.

Related Articles

  • Chelsea wing back Alonso charged with violent conduct

    Chelsea wing back Alonso charged with violent conduct

    The 27-year-old Spanish global has now been told to respond until 6 pm on Wednesday, April 18, or face severe outcome . However, the FA has since reviewed footage and now sanctioned the Spaniard, who has until 6pm on Wednesday to respond.
    Xiaomi Redmi Note 5 will launch in Malaysia on 24 April

    Xiaomi Redmi Note 5 will launch in Malaysia on 24 April

    We're saying so because the XDA developers have now managed to get hold of the stable build of Android Oreo based MIUI firmware. Xiaomi Redmi S2 will features a 720 x 1,440 px LCD screen, Snapdragon 625 chipset and Android Android 8.1 Oreo out of the box.
    John Cena Was A Changed Person Before Ending Romance With Nikki Bella

    John Cena Was A Changed Person Before Ending Romance With Nikki Bella

    Bella was apparently hurt by Cena's comments about their relationship while he was promoting the " Blockers " movie. Though they did get engaged a year ago , it is sad to see that they didn't eventually get married.
  • Trending: Taylor Hall, Game 3, #WHLPlayoffs

    Trending: Taylor Hall, Game 3, #WHLPlayoffs

    However, the tone of this game, and what is now going to be the tone for the upcoming Game 4, was set in the third period. There's going to be battles, there's going to be swings of momentum, but the big thing for me is who won the game".
    S.Korea says officials may visit N.Korea ahead of summit

    S.Korea says officials may visit N.Korea ahead of summit

    Im noted that past agreements to denuclearize were not realized, partly due to lack of United States support or consent. During negotiations, agreement was reached on holding a meeting of leaders of the two countries.
    Ex-FBI chief Comey says Trump 'morally unfit to be president'

    Ex-FBI chief Comey says Trump 'morally unfit to be president'

    While there are still some unanswered questions, of course, ABC's Sunday night telecast told the Comey tale from start to finish. When asked if he thinks Trump is unfit for office, Comey was quick to say yes - because he sees Trump as " morally unfit ".
  • Man City striker Aguero to miss rest of season

    Man City striker Aguero to miss rest of season

    Argentina launch their campaign against Iceland on June 16 before two more group games against Croatia and Nigeria. He didn't give a timescale for his return, saying only he is "fully motivated to get back soon to the field".
    LeBron James Sued For Allegedly Stealing Barbershop Show Idea

    LeBron James Sued For Allegedly Stealing Barbershop Show Idea

    The tabloid said the company claims it had several talks with LeBron's company, UNINTERRUPTED, about the idea. Adventure Enterprises said they received assurances from James that the webisode was a one-time only thing.
    Reducing shipping industry's carbon emissions is 'major progress'

    Reducing shipping industry's carbon emissions is 'major progress'

    The IMO has agreed to hold a fourth inter-sessional meeting of its working group on reducing GHGs later in the year. The outcome has been largely welcomed by industry organisations.
  • Launch of NASA's TESS planet-hunter postponed to April 18

    Launch of NASA's TESS planet-hunter postponed to April 18

    A new satellite, set to launch today, is expected to find thousands more planets outside of our solar system, known as exoplanets. Satellite maker Orbital ATK's Robert Lockwood said he expects Tess to take exoplanet discovery to a whole new level.
    Rumor: Ubisoft May Have Accidentally Revealed Watch Dogs 3 Is In Development

    Rumor: Ubisoft May Have Accidentally Revealed Watch Dogs 3 Is In Development

    But as PlayStationLifeStyle noted last week, a couple of more specific signs of dogs being watched recently came to light. Holiday 2018 is a likely release date, if Ubisoft plans to alternate Assassin's Creed and Watch Dogs releases.
    IDF reveals technology behind discovery of Hamas terror tunnels

    IDF reveals technology behind discovery of Hamas terror tunnels

    The tunnel, which was constructed by Hamas after the Gaza War in 2014, was "ready for use", the IDF spokesman said. Conricus said Israel had been monitoring the construction of the tunnel for some time.