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The demise of The Bon-Ton Stores is an opportunity, not a setback, for shopping centers, said speakers at a conference sponsored by ICSC and the Commercial Association of Realtors Wisconsin, in Milwaukee, reports the Milwaukee Business Journal.
“The harsh answer about Bon-Ton is we don’t need them,” said Robin Lewis, editor of industry newsletter The Robin Report, addressing the delegates.
Bon-Ton operated 254 stores across 23 states, under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers banners. The company entered Chapter 11 bankruptcy protection on Feb. 4 and was acquired by liquidators last week for $775 million.
"All of these box stores have been dinosaurs and haven't been performing for the last 20 years," said Adam Connor, director of Marcus & Millichap’s national retail group, according to the newspaper. "Most of these malls are ecstatic to get that space back."
By Edmund Mander
Director, Editor-In-Chief/SCT
