The Bon-Ton Stores Inc. (York, Pa.) has hired a restructuring firm that will help the company consider its options as it pertains to its more than $900 million of debt. PJT Partners (New York) has been hired to oversee the restructuring.
The announcement comes in the wake of the company’s second-quarter earnings results, which included a decline in same-store sales of more than 6 percent and a net less of more than $33 million. Total sales also decreased 7 percent during the period to $504 million.
The Bon-Ton brands include Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates, reports Dayton Daily News.