Bon-Ton (BONT) to Close Springfield, OH-Based Location
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The Bon-Ton Stores, Inc. (Nasdaq: BONT) announced it will close its Elder-Beerman store in Springfield, Ohio. The Company will not renew the lease, which terminates January 31, 2013. The closing will impact approximately 40 associates at this location.
The Bon-Ton acquired the leasehold interests in the Springfield store as part of the Elder-Beerman acquisition in 2003. The Company does not expect costs associated with the closing of the location to be material. The store will close at the end of its lease term.
The affected associates in the Springfield location will be offered the opportunity to interview for available positions at other Elder-Beerman stores or receive career transition benefits, including severance, according to established practices and state employment service support.
The Bon-Ton acquired the leasehold interests in the Springfield store as part of the Elder-Beerman acquisition in 2003. The Company does not expect costs associated with the closing of the location to be material. The store will close at the end of its lease term.
The affected associates in the Springfield location will be offered the opportunity to interview for available positions at other Elder-Beerman stores or receive career transition benefits, including severance, according to established practices and state employment service support.
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