WASHINGTON (dpa-AFX) - Department store chain The Bon-Ton Stores Inc. announced plans to shut down at least 40 of its stores next year as the company that is laden with debt and has poor sales plans to turnaround.
'We expect to implement a significant store rationalization program and plan to close at least 40 locations through 2018,' Bon-Ton President and CEO William Tracy said in a news release Thursday. 'This will enable us . moving forward with a more productive store footprint and redirecting capital expenditures toward investments designed to drive sales growth.'
Bon-Ton has not disclosed the list of stores that it plans to close. The company operates 260 stores in 24 states under different brands including Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers.
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