The Bon-Ton Stores, Inc. Announces January Closing of Its Boston Store Sheboygan, Wisconsin Location

  The Bon-Ton Stores, Inc. Announces January Closing of Its Boston Store
  Sheboygan, Wisconsin Location

Business Wire

YORK, Pa. -- November 13, 2013

The Bon-Ton Stores, Inc. (NASDAQ:BONT) today announced it will close its
Boston Store Harbor Center location in Sheboygan, Wisconsin. The Company will
terminate its lease as of January 31, 2014. The closing will impact
approximately 80 associates at this location.

The Bon-Ton acquired the leasehold interests in the Boston Store Harbor Center
store as part of the Northern Department Store Group acquisition in 2006. 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, “The
Company continually reviews the performance of its assets; as a result of
these reviews, we made the decision to close our Harbor Center location. We
invite our Sheboygan customers to shop with us at our remaining Boston Store
and Younkers stores in the area as we will continue to provide great service
and an outstanding merchandise assortment. We are very appreciative of the
devoted Boston Store Harbor Center store associates and are committed to
providing assistance to these associates.”

The affected associates in the Boston Store Harbor Center location will be
offered the opportunity to interview for available positions at other Boston
Store or Younkers stores in the area 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 273 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 Pirie Scott,
Elder-Beerman, Herberger’s and Younkers nameplates. The department 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, Investor & Public Relations
mkerr@bonton.com
 
Press spacebar to pause and continue. Press esc to stop.