The Bon-Ton Stores, Inc. Announces January Closing of Its Bon-Ton Scranton, PA Location

  The Bon-Ton Stores, Inc. Announces January Closing of Its Bon-Ton Scranton,
  PA Location

Business Wire

YORK, Pa. -- October 17, 2013

The Bon-Ton Stores, Inc. (NASDAQ:BONT) today announced it will close its
Bon-Ton store in The Mall at Steamtown in Scranton, Pennsylvania. The Company
will not renew the lease, which terminates January 31, 2014. The closing will
impact approximately 50 associates at this location.

The Bon-Ton acquired the leasehold interests in the Scranton store in 2000.
The Company does not expect costs associated with the closing of the location
to be material. The store will close at the end of its lease term.

Brendan Hoffman, President and Chief Executive Officer, commented, “Our
Scranton customers are invited to shop with us at our remaining Bon-Ton stores
in the area as we will continue to provide great service and an outstanding
merchandise assortment. We are very grateful for the devoted Scranton store
associates and are committed to providing assistance to these associates.”

The affected associates in the Steamtown Mall location will be offered the
opportunity to interview for available positions at other Bon-Ton stores or
receive career transition benefits, including severance, according to
established practices and state employment service support.

The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania
and Milwaukee, Wisconsin, operates 272 department stores, which includes 10
furniture galleries, in 25 states in the Northeast, Midwest and upper Great
Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman,
Herberger’s and Younkers nameplates. The stores offer a broad assortment of
national and private brand fashion apparel and accessories for women, men and
children, as well as cosmetics and home furnishings. For further information,
please visit the investor relations section of the Company’s website at
http://investors.bonton.com.

Certain information included in this press release contains statements that
are forward-looking within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements, which may be identified
by words such as “may,” “could,” “will,” “plan,” “expect,” “anticipate,”
“estimate,” “project,” “intend” or other similar expressions, involve
important risks and uncertainties that could significantly affect results in
the future and, accordingly, such results may differ from those expressed in
any forward-looking statements made by or on behalf of the Company. Factors
that could cause such differences include, but are not limited to: risks
related to retail businesses generally; a significant and prolonged
deterioration of general economic conditions which could negatively impact the
Company in a number of ways, including the potential write-down of the current
valuation of intangible assets and deferred taxes; risks related to the
Company’s proprietary credit card program; potential increases in pension
obligations; consumer spending patterns, debt levels, and the availability and
cost of consumer credit; additional competition from existing and new
competitors; inflation; deflation; changes in the costs of fuel and other
energy and transportation costs; weather conditions that could negatively
impact sales; uncertainties associated with expanding or remodeling existing
stores; the ability to attract and retain qualified management; the dependence
upon relationships with vendors and their factors; a data security breach or
system failure; the ability to reduce or control SG&A expenses, including
initiatives to reduce expenses and improve efficiency; operational
disruptions; unsuccessful marketing initiatives; the failure to successfully
implement our key strategies, including initiatives to improve our
merchandising, marketing and operations; adverse outcomes in litigation; the
incurrence of unplanned capital expenditures; the ability to obtain financing
for working capital, capital expenditures and general corporate purpose; the
impact of regulatory requirements including the Health Care Reform Act and the
Dodd-Frank Wall Street Reform and Consumer Protection Act; the inability or
limitations on the Company’s ability to favorably adjust the valuation
allowance on deferred tax assets; and the financial condition of mall
operators. Additional factors that could cause the Company’s actual results to
differ from those contained in these forward-looking statements are discussed
in greater detail under Item 1A of the Company’s Form 10-K filed with the
Securities and Exchange Commission.

Contact:

The Bon-Ton Stores, Inc.
Mary Kerr, 717-751-3071
Vice President
Public and Investor Relations
mkerr@bonton.com
 
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