Hundreds of stores owned by retail corporation Bon-Ton are going out of business – including Younkers.
Wednesday, a bankruptcy court approved Bon-Ton’s sale of all assets and a plan to wind down company operations.
A joint-venture between Great American Group and Tiger Capital will acquire Bon-Ton’s inventory and assets.
The company operated 250 stores in 23 states including several Younkers department stores in Iowa and Herberger’s in Ottumwa.
Iowa Workforce Development was notified earlier this month about the planned closure of seven of the chain’s stores in Iowa, which affected 635 employees.