The Wall Street Journal: Bon-Ton to close its remaining department stores, putting 24,000 out of work

Department-store operator Bon-Ton Stores Inc. will begin closing down its remaining stores and go out of business after a bankruptcy judge said she would approve the sale of the retailer’s assets.

Judge Mary Walrath of the U.S. Bankruptcy Court in Wilmington, Del., Wednesday cleared the way for a sale to a group of bondholders and a pair of liquidators, which will begin closing more than 250 stores across 23 states, putting about 24,000 employees out of work.

All stores are set to be closed no later than Aug. 31, court papers show.

Bon-Ton’s BONTQ, -52.85% impending liquidation follows Toys “R” Us Inc.

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