Younkers parent company announces all stores will close

Bon-Ton Stores, the parent company of Younkers and several other retail brands, announced today that all stores will liquidate after the winning bid in an auction was determined.

Local 4 News was first to report the closing of the Davenport Younkers store at NorthPark Mall. Employees said they found out around 3 p.m. Tuesday. 

Throughout the court-supervised asset sale process, the company’s stores, e-commerce and mobile platforms under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates will remain open throughout the store closing sales.

Younkers also has stores in Muscatine and Moline, while Bergner’s has a location in Galesburg.

“While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going concern, we are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve,” said Bill Tracy, President and Chief Executive Officer. “We are incredibly grateful to all of our associates for their dedicated service to Bon-Ton and to our millions of loyal customers who we have had the pleasure to serve as their hometown store for more than 160 years.”

Bon-Ton expects to provide more details about the liquidation plans and going out of business sales at its stores following approval of the winning bid by the bankruptcy court.

Bon-Ton and its subsidiaries filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware in February.

EARLIER REPORT

Another store is closing its doors. This time it’s Younkers in Davenport’s NorthPark Mall. 

Local 4 News was first to report the closing.
 
Employees say they found out around 3 p.m. 

They expect the store to close by the end of June.
 
The NorthPark Younkers is one of at least eight stores closing in Iowa. 

Nationwide, its parent company is closing 42.
 
Quad Cities shoppers say they are sad to see the store go. But it doesn’t surprise them. 

A record number of stores closed across the U.S. last year: 6,400.

Four months into 2018, store closings have already exceeded half that at 3,800.

Quad Cities shoppers think they know why: “Online shopping.”
 
Data from the U.S. Census Bureau shows retail has grown steadily the last several years. 

But online shopping is growing faster. 

“If you see something at Younkers in the kitchen section and you go, ‘Where can I get that cheaper?’ You go online and chances are you’re going to find it cheaper,” said Quad Cities shopper Sharon Missel.

Analysis from Business Insider shows Toys R Us tops the list with the most stores closed so far this year at 700. 

Two of those are in the Quad Cities.

Sam’s Club closed 63. One was in Moline.

Shoppers say they like traditional brick and mortar stores like Younkers. 

“I shop there all the time especially like Christmas and birthdays,” one shopper said. 

But you can’t beat the convenience of online. 

“Just seems like there’s always a big crowd and you didn’t get a good parking space,” Missel said. “You know, easier to click the mouse on your home computer. Little bit of laziness.” 

EARLIER REPORT

Employees at the Younkers in Davenport’s North Park Mall say the store will be closing. 

Employees say they were told around 3 p.m. that the store would close in 10 to 12 weeks. 

This isn’t the only Younkers closing its doors.

Documents on the Iowa Workforce Development site show eight others closing.
    
We contacted Younkers, mall management and media contacts of the store’s parent company.

So far, our calls and emails have not been returned.

Tune into Local 4 News at 4, 5 and 6 for more on this developing story.