Tuesday, 24 April, 2018

Bon-Ton bid appears to be falling short

Bon-Ton Bankruptcy Auction Begins Reports: Only bids moving forward for Bon-Ton are for liquidation
Sammy Stanley | 17 April, 2018, 22:34

One liquidator group estimated their initial bid was worth about $650 million, according to a creditor representative.

Reuters news service is reporting this today that sources are saying the only corporate bidders in court-supervised auction were liquidators. On Monday evening, Kelley Cornish of Paul Weiss for the debtors began the auction by announcing the Hilco/Gordon Brothers bid as the stalking horse bid; counsel for the stalking horse bidder then bid 31 cents of retail value for the inventory, sources say. The second lien noteholders' joint bid is for all of the debtors' assets, including real estate.

If Bon-Ton is shuttered, it would be a major blow to its employees and to retail centers around the state.

The bankruptcy auction for Bon-Ton's assets, which is being held at a law office in NY, will resume this morning at 8 a.m., according to the Reorg Research report. It has been looking for a buyer, but also making contingency lay-off plans in case it is forced to shut down.

Stormy Daniels Releases Sketch of Man She Says Threatened Her
Cohen admitted making the payment in February, but claims Trump knew nothing of it, and that it was his own personal cash. "100%. Forget the story.' And then he leaned around and looked at my daughter and said, 'That's a lovely little girl.

Bon-Ton, a bankrupt chain of 200 regional department stores with almost 20,000 employees, had been working with US mall owners Namdar Realty Group and Washington Prime Group, Inc.to secure a bid that would have kept open a large portion of Bon-Ton locations.

A U.S. Bankruptcy Court judge must still approve any liquidation deal.

Officials at Bon-Ton hoped the bankrupt company would be saved by a last-minute joint bid by several mall owners last week, including Southern Hills Mall owner Washington Prime Group.

Younkers has had a presence in the Siouxland market since 1947 when it acquired Davidson Brothers Co., a regional chain that once boasted locations in Le Mars and Sioux Falls in addition to its Sioux City flagship store.

Recommended

  • Investor Watch: Indicator Review for Royal Dutch Shell Plc (RDS.A)

    Investor Watch: Indicator Review for Royal Dutch Shell Plc (RDS.A)

    Referred to as "market cap", it is determined by doubling a company's shares outstanding by the current market price of one share. Laurion Management LP has 0% invested in The Walt Disney Company (NYSE:DIS). (NYSE:PKI) shares were sold by Wilson Frank Anders .
    SmartMesh (SMT*) soars 6.78% on April 16-17

    SmartMesh (SMT*) soars 6.78% on April 16-17

    SmartMesh (CURRENCY:SMT) traded up 3.9% against the U.S. dollar during the 1 day period ending at 11:00 AM ET on April 10th. The Reddit community for Humaniq is /r/Humaniq and the currency's Github account can be viewed here.
    What's the Meaning Behind Drake's Album Title 'Scorpion'?

    What's the Meaning Behind Drake's Album Title 'Scorpion'?

    On Monday, April 16, the Canadian rapper posted a couple of photographs on Instagram that seem to pertain to his new record. He also released his " More Life " playlist project in March 2017 and the " Scary Hours " EP in January.
  • Video shows police punch Harvard student

    Video shows police punch Harvard student

    Cambridge Mayor Marc McGovern said video taken by an onlooker shows an officer punching the man, who is black, several times. He is being charged with indecent exposure, disorderly conduct, assault, assault and battery, and resisting arrest.
    Global growth expected be 3.9 percent in 2018 and 2019

    Global growth expected be 3.9 percent in 2018 and 2019

    There are warnings about the risks ahead, lurking dangers that could lead to the global economy falling short of the IMF's forecasts, in addition to the concerns about trade.
    Trump 'morally unfit' for office: Ex-FBI chief Comey

    Trump 'morally unfit' for office: Ex-FBI chief Comey

    President Donald Trump is again calling former FBI Director James Comey a "slimeball " ahead of the publication of his new book. Trump told Comey that he had not stayed overnight in the Moscow hotel and that the claims were not true, Comey said.
  • Mock draft Monday: Updated seven-round Steelers mock draft

    Mock draft Monday: Updated seven-round Steelers mock draft

    What will the Cardinals do with pick 15? With that, here is how we believe the draft could shake out including one potential trade that could dictate the rest of the draft.
    Manchester City Cleared Over Garre Signing

    Manchester City Cleared Over Garre Signing

    That led the Argentine club to take the case to the Court of Arbitration for Sport (CAS), who presided over the final ruling. The court will publish the reasoned verdict on Friday.
    Chemical weapons inspectors reach Syrian town

    Chemical weapons inspectors reach Syrian town

    Ahmed Abed al-Nafaa said helicopters were flying before the attack and when he reached the site, people were screaming "chlorine". After he was revived, he returned to the shelter and found his wife and daughters dead, with foam coming from their mouths.
  • SpcaeX readying to launch NASA's TESS telescope

    SpcaeX readying to launch NASA's TESS telescope

    Using four wide-field cameras developed by MIT's Lincoln Laboratory, TESS will observe each one over the course of its quest. Ultimately, TESS' work will help pave the way toward discovering whether life exists - or could exist - on other planets.
    Castlevania: Grimoire Of Souls For iOS Revealed By Konami

    Castlevania: Grimoire Of Souls For iOS Revealed By Konami

    But a well done side-scrolling Castlevania title for Switch, PlayStation 4 and Xbox One would do unbelievable well I assume. Other characters from the series are available as well as Alucard, Charlotte, Simon Belmont, Shanoa, and Marie.
    Two EF-1 Tornadoes Confirmed in Johnson and Franklin Counties

    Two EF-1 Tornadoes Confirmed in Johnson and Franklin Counties

    The National Weather Service has confirmed a tornado struck Lynchburg and the counties of Amherst and Campbell on Sunday. In Amherst County, it crossed Virginia 130 into Elon and its wind speed strengthened to an estimated 130 miles per hour .

First game of Detroit Tigers doubleheader vs. Yankees postponed due to weather First game of Detroit Tigers doubleheader vs. Yankees postponed due to weather This week was the Yankees' only scheduled trip to Detroit , but now the games will have to be made up later this summer. The Tigers plan to start Francisco Liriano on Tuesday, Matthew Boyd on Wednesday and Jordan Zimmermann on Thursday.

Aguero recovering after surgery on his knee Aguero recovering after surgery on his knee Returning to full fitness in time for this summer's World Cup will now be Aguero's main concern, with the showpiece event in Russian Federation now just two months away.

Russian team enlists bear to kick off league match! Russian team enlists bear to kick off league match! After being led out onto the side of the pitch before kick-off, the bear lead a round of applause whilst stood on his hind legs. With the referee taking the ball from the animal's claws, it then appears to join in with applause from the crowd.

AMD Ryzen 7 2700X overclocked to 5.8GHz AMD Ryzen 7 2700X overclocked to 5.8GHz The 2600X and 2600 in the Ryzen 5 range are priced at United States dollars 229 (INR 14,932) USD 199 (INR 12,975), respectively. So you don't need to change your motherboards in case you are using the old Ryzen CPUs, just a BIOS update will suffice.

Blake Shelton open to marrying Gwen Stefani Blake Shelton open to marrying Gwen Stefani Stefani has three children with Rossdale while Shelton has no children. She performed "Keeper of the Flame", and also won two awards. She said she'd sing it if he sang it with her.

J. Cole Has a New Album on the Way J. Cole Has a New Album on the Way The Dreamville boss announced what appears to be a special concert at New York City's Gramercy Theatre tonight (April 16). Cole then tweeted this Friday's date ("4/20") alongside "New album" and the abbreviation " KOD ".

Twitter goes offline for few minutes Twitter goes offline for few minutes In the Down Detector website, which tracks services when they go offline, many users from Mumbai to NY were reporting outage. Millions of users around the world were left without the services of Twitter for a few minutes on Tuesday evening.

South Korean officials may visit North Korea before summit South Korean officials may visit North Korea before summit The 2 sides plan to hold working-level talks on Wednesday about arrangements for security and proceedings of the summit. Moon said the ultimate goal of his upcoming summit is to establish permanent peace on the Korean Peninsula.

Kendrick Lamar wins the Pulitzer Prize for music Kendrick Lamar wins the Pulitzer Prize for music Andrew Sean Greer , a former instructor in the Iowa Writers' Workshop, took home the Pulitzer Prize in fiction for his novel Less. The New York Times staff also jointly won an award in the National Reporting category, along with the Washington Post staff.

WWE Rumors: Why John Cena, Nikki Bella Split, Called Off Engagement WWE Rumors: Why John Cena, Nikki Bella Split, Called Off Engagement Love is beautiful, but we've had to come to the realisation after being together for five years that love is not easy. Adding, "I feel like I'd be missing out".

Android 8.1 Oreo Update Arrives To The OnePlus 5 & 5T Android 8.1 Oreo Update Arrives To The OnePlus 5 & 5T This essentially adds power saving benefits while running games, and automatically pauses adaptive screen brightness. What that means is that only a couple of OnePlus 5 and 5T smartphones are going to receive the update every day.

Victims recall horror of Syria chemical attack Victims recall horror of Syria chemical attack President Trump speaks during a meeting with senior military leaders at the White House in Washington , D.C., on Monday. The President also insisted that the U.S. would not remain engaged in Syria forever under any circumstances.

Philadelphia District Attorney Says Meek Mill Conviction Should Be Tossed Philadelphia District Attorney Says Meek Mill Conviction Should Be Tossed Judge Genece Brinkley refused to free him on bail after the announcement from the Philadelphia district attorney's office during a hearing.

Weather Authority: Midweek chance of snow and rain Weather Authority: Midweek chance of snow and rain High temperatures should continue to slowly moderate next Monday with low to a few mid 60s expected. Wednesday: Rain likely, possibly mixed with snow before 9 a.m., then a chance of rain.

Tax experts share last minute tax filing tips Tax experts share last minute tax filing tips If the government owes you money, however, the only penalty for missing the deadline is that you won't get your refund as soon. WASHINGTON ― The Internal Revenue Service is cautioning taxpayers to avoid the dangers of "ghost" tax return preparers.