Younkers Store Owners Receive Letter of Intent to Buy Company
Attention Younkers shoppers, it's beginning to look more and more like your favorite Sioux Falls department store may stay open.
KSFY TV is reporting that Bon-Ton Stores Inc. the parent company for the Sioux Falls Younkers store in the Empire Mall has received a letter of intent to buy the company.
In February, Bon-Ton Stores Inc. filed for bankruptcy. Then, news broke last week that Bon-Ton Inc. planned to close its Sioux Falls store this June after the company filed the required notice with the state of South Dakota.
According to KSFY, the latest development in the Younkers saga now has the auction of Bon-Ton assets being postponed to April 16 as company executives work with an investor group to finalize a purchase agreement. That news was made public in a press release issued on Monday, (April 9).
SiouxFalls.Business reports the investor group, which includes DW Partners, Namdar Realty Group, and Washington Prime Group, hopes to acquire Bon-Ton assets during a bankruptcy court-supervised sale process.
Younkers released a statement earlier saying their main goal is to find a buyer and preserve jobs.
Should the Sioux Falls store end up closing its doors, 158 workers would lose their jobs.
Source: KSFY TV/ SiouxFalls.Business