Parent company of Carson's at brink of bankruptcy, according to - ABC21: Your Weather Authority

Parent company of Carson's at brink of bankruptcy, according to new report

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FORT WAYNE, Ind. (WPTA 21) -

The Bon-Ton Stores, Inc., the parent company of Carson's department store, is being pushed toward bankruptcy by some of their largest creditors, a new report in Bloomberg said Friday.

Citing sources familiar with the matter, Bloomberg says it is not clear if Bon-Ton would liquidate or reorganize if it does go bankrupt. The company could also combine some parts of its retail operations with another business. 

Last year, Bon-Ton announced plans to close at least 40 of their stores in 2018, though it did not indicate which locations. Carson's is one of the anchor tenants at Fort Wayne's Glenbrook Square mall.

Several other anchor tenants, including JCPenney, Macy's and Sears, have survived department store cutbacks in recent years -- and, in the case of Macy's and Sears, the past two weeks.

Bon-Ton is struggling under more than $1 billion of debt, a situation not helped by a poor holiday sales season. The company operates 260 stores, mostly in the Northeast, Midwest and upper Great Plains.

In addition to Carson's, its brands include Bergner's and Boston Store.

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