Headlines

Bon-Ton Reaches Forbearance Agreement

Lenders gave the company an extension on its interest payment

Published

6 years ago

January 17, 2018

The Bon-Ton Stores Inc. (York, Pa.) has received an extension from lenders regarding its $14 million interest payment that was due Dec. 15.

Under the forbearance agreement it has entered with its ABL credit agreement lenders, and an ad hoc group of holders of the company’s second lien secured notes due 2021, the retailer now has until Jan. 26 to pay. (There is the possibility that its creditors could agree to another extension of Feb. 4.)

According to Women’s Wear Daily, some credit analysts feel that the retailer “is a candidate for a bankruptcy filing.”

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