A court-supervised auction of the bankrupt business started on Monday. According to Reuters, sources familiar with the matter said the only bidders were liquidators. If the U.S. Bankruptcy Court in Wilmington, Delaware, approves the sale of Bon-Ton to a liquidator, it could mean the closure of all Bon-Ton stores, including the Herberger’s and Herbergers Home…
Sasha deBretton Perths self-styled queen of rich-list renovations has placed her group of companies, including the flagship Million Dollar Makeovers, into liquidation. As of the first week of this month, three of Ms deBrettons firms were in the hands of liquidators Cameron Shaw and Brent Kijurina, working for accountants Hall Chadwick. In contrast to Ms…
Younkers (WHO-HD) × 7 Iowa Younkers Stores to Close, Parent Company Headed for Liquidation Younkers (WHO-HD) DES MOINES, Iowa Documents filed with Iowa Workforce Development signal a closing of seven Younkers stores in the state. The action lends more credibility to a Reuters report that the stores parent company, Bon-Ton, is being bid on by two…
Vedantas bid to acquire the bankrupt Electrosteel Steels received the final nod from the Kolkata Bench of the National Company Law Tribunal (NCLT) on Tuesday. The Division Bench comprising Justice Jinan KR and Justice Madan Balachandra Gosavi, in its order on Tuesday, said that the approved resolution plan (RP) shall come into force with immediate…
WILMINGTON, Del./NEW YORK (Reuters) – Bon-Ton Stores Inc, a bankrupt chain of 200 regional department stores, will go out of business after the only bidders competing at the Monday start of its court-supervised auction were liquidators, two sources familiar with the matter told Reuters. Bon-Ton had been working with U.S. mall owners Namdar Realty Group…
Franchisees of Aussie Farmers Direct say they have zero faith in seeing any money owed to them by the business, as the administrators of the grocery delivery chain say winding up the company is the most viable option. The grocery delivery operator fell into voluntary administration in March and franchisees were left shell-shocked by an…
A Bon-Ton storefront. Courtesy Photo At press time, the bankruptcy court-approved auction for The Bon-Ton Stores Inc. on Monday was headed toward a liquidation. The company on Friday selected a bid by Hilco Merchant Resources and Gordon Brothers Retail Partners as the baseline for the court auction. The dollar amount of the bid was not…
Creditors of The Bon-Ton Stores are looking to buy and liquidate the regional department store chain, which employs 20,000 workers. A rival investor group that includes two mall owners also hopes to buy The Bon-Ton Stores in a bankruptcy court-supervised auction Monday and keep the business alive, but faced a setback in court last week.…
The Insolvency and Bankruptcy Code (IBC) introduced by the Narendra Modi government in December 2016 to fix the banking sectors bad loans problem has over the last 16 months been a mixed bag, with borrowers and disgruntled bidders increasingly exploiting vagueness in some key provisions of the code to stall bankruptcy proceedings.…
A rival investor group that includes two mall owners also hopes to buy The Bon-Ton Stores in a bankruptcy court-supervised auction today and keep the business alive, but faced a setback in court last week. U.S. Bankruptcy Judge Mary Walrath in Delaware decided the investment group alternative asset manager DW Partners, commercial real estate investment…