Bill Tracy, President and Chief Executive Officer, said in a statement:
"While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going concern, we are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve. We are incredibly grateful to all of our associates for their dedicated service to Bon-Ton and to our millions of loyal customers who we have had the pleasure to serve as their hometown store for more than 160 years."
Going out of business sales and future liquidation plans will be made in the future following approval of the winning bid in the bankruptcy auction.
Bon-Ton warned the state of potential layoffs earlier this month after the company filed for bankruptcy back in February.
The DWD is working to provide transition assistance to workers affected by the layoffs.
More information about services for laid-off workers can be found at the DWD’s website.