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The downward spiral has put Bon-Ton on several lists that speculate on possible bankruptcy filings this year.
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The stores set to close operated under various banners — Carson's, Younkers and Herberger's — and span states such as Idaho, New York and Ohio.Liquidation sales for the 42 stores are set to begin on Feb. Meanwhile, the department store chain has laid out a restructuring plan that includes opening smaller locations, resetting its inventory to move away from seasonal fashion accessories and growing its private-label brands.The company recently entered into a forbearance agreement after failing to meet a deadline for debt payments.The company said these efforts all have the goal of making Toys R Us "more viable and competitive" in the retail industry today.Toys R Us has lost market share from competitors including Amazon, Target and Walmart, and more toy brands are selling directly to consumers. Click here to see a map of the Toys R Us stores set to close this year.
Bon-Ton has dual headquarters in Milwaukee, Wisconsin, and York, Pennsylvania.