Bankrupt retailer Bon-Ton Stores Inc. has confirmed that it will be closing all of its Herberger’s stores nationwide.
Herberger’s is an anchor store in Mankato’s River Hills Mall. The parent company filed for bankruptcy Feb. 4 and had been searching for a buyer that would allow it to stay in business.
An auction for the company’s assets was held in bankruptcy court, and CEO Bill Tracy said, “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.”
Bon Ton said the stores will remain open throughout the store-closing sales, and the company expects to provide more details about the liquidation plans and going-out-of-business sales once the winning bid is approved by the bankruptcy court.
There are several Herberger’s stores in the Twin Cities and the suburbs, as well as in St. Cloud and Rochester. Bon Ton also operates Younkers, which has locations in Austin and Duluth.