Court filings show that all the Younkers and Bergners stores in IL and Iowa will close as part of the sale of their corporate owner to liquidators.
Bon-Ton's liquidators also have agreed to accept returns of items that were purchased before the bankruptcy sale started, but only for the first 10 days of the going-out-of-business sale.
The company said it expects Younkers and its other stores to remain open during going-out-of-business sales.
The Bon-Ton has more than 200 stores in 24 states, including one at the Chautauqua Mall in Lakewood, as well as in the Warren Mall in North Warren, PA.
But the potential bid suffered a setback as the US Bankruptcy Court judge handling the case said Bon-Ton couldn't pay $500,000 in due diligence and other fees for the mall owners and investment firm, Journal Sentinel reported.
Bon-Ton, which filed for bankruptcy in February, operates two Younkers stores in Omaha, at Oak View and Westroads Malls.
"The stores obviously have been a part of this community for decades and decades and it's sad to see them go, " said Milwaukee Mayor Tom Barrett.
Image: Bon-Ton stores to be closed within 10 -12 weeks. Liquidation firms Great American Group and Tiger Capital Group are the winners of the auction. "The Boston Store has been an institution since its founding in Milwaukee in 1897".
Brookfield Square is undergoing a transformation with the south end that Sears once occupied being turned into a Marcus Bistro Plex, as well a possible conference center.
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