topic Bon Ton is Closing Out Cards :( in Credit Cards

Bon Ton is Closing Out Cards :(

kberly69 — Fri, 20 Apr 2018 00:01:34 GMT

I received an email today saying that my Younkers card is being closed due to the Bon Ton bankruptcy. Can't use it as of today, nor can we use any rewards accrued. It will be closed in June. Bummer

Re: Bon Ton is Closing Out Cards :(

Anonymous — Fri, 20 Apr 2018 02:34:22 GMT

Oh wow, I didn't even know this was happening. I don't live in a state (well I guess Grand Junction has a Herberger's) that has any Bon Ton stores so I did not hear about this. So sad. I always liked department stores but they are becoming endangered.....

I remember a few years ago Bon Ton was having trouble finding a bank to back their retail cards. One day people will look back and wonder why there are no department stores or malls and will wish that there were......

Re: Bon Ton is Closing Out Cards :(

Anonymous — Fri, 20 Apr 2018 02:40:53 GMT

Oh wow. Thanks for this information. Makes me feel better. Even though I closed a $25k Lowes card, I almost fell for either Bon Ton or Boscovs because people were getting their cards up to $30k.

We have neither store anywhere close and I would have had to buy things I didn't really need. The $30k credit line seemed tempting though.

Glad I didn't apply.

Re: Bon Ton is Closing Out Cards :(

MakingProgress — Fri, 20 Apr 2018 15:28:15 GMT

Bon Ton is liquidating all stores, and going out of business. You don't need the credit card if you have no place to use it.

Re: Bon Ton is Closing Out Cards :(

kberly69 — Fri, 20 Apr 2018 15:36:14 GMT

That's apparent now but as of a couple days ago there were only certain stores that were announced to be closing. At least as far as I had heard.

Re: Bon Ton is Closing Out Cards :(

MakingProgress — Fri, 20 Apr 2018 17:31:27 GMT

@kberly69 wrote:
That's apparent now but as of a couple days ago there were only certain stores that were announced to be closing. At least as far as I had heard.

You are right a couple of days ago it was not a total liquidation, but there was an auction taking place for the assets of the company. That auction is now complete and the winners are liquidating.

Re: Bon Ton is Closing Out Cards :(

Dalmus — Fri, 20 Apr 2018 18:14:30 GMT

Bon Ton is partially the victim of internet shopping, sure... but they are also a victim of their own stupidity. They leveraged too much debt to buy too many regional store brands and rather than consolidating them all under one name (short term hurt, sure, due to customer loyalty to the old name) and using national ad buys to efficiently market themselves, they kept all the regional names, pretty much forcing themselves into a bloated marketing budget that had to duplicate its efforts for each different store name.

Sad, for sure.

Re: Bon Ton is Closing Out Cards :(

Anonymous — Fri, 20 Apr 2018 22:24:14 GMT

@Anonymous wrote:
Oh wow, I didn't even know this was happening. I don't live in a state (well I guess Grand Junction has a Herberger's) that has any Bon Ton stores so I did not hear about this. So sad. I always liked department stores but they are becoming endangered.....

I remember a few years ago Bon Ton was having trouble finding a bank to back their retail cards. One day people will look back and wonder why there are no department stores or malls and will wish that there were......

Memories ... I was around when the first indoor shopping mall was built in Edina, Minnesota around 1956 ... awhile ago. It was called Southdale Center and they held formal affairs such as balls and allowed for community events. Started with Daytons (Target today) and L.S. Donaldson (Carson Pirie Scott) ... later they added JC Penney. It was great to get inside from the harsh Arctic like climate of the outback called Minnesota! Sure was a respite since we did not make it as the "banana belt". I too will miss the indoor shopping malls. May be for the younger folks they will live again to see the Dinosaurs roam the earth ... I am too old

Re: Bon Ton is Closing Out Cards :(

Dalmus — Fri, 20 Apr 2018 19:14:44 GMT

@Anonymous wrote:
@Anonymous wrote:
Oh wow, I didn't even know this was happening. I don't live in a state (well I guess Grand Junction has a Herberger's) that has any Bon Ton stores so I did not hear about this. So sad. I always liked department stores but they are becoming endangered.....

I remember a few years ago Bon Ton was having trouble finding a bank to back their retail cards. One day people will look back and wonder why there are no department stores or malls and will wish that there were......
Memories ... I was around when the first indoor shopping mall was build in Edina, Minnesota around 1956 ... awhile ago. It was called Southdale Center and they held formal affairs such as balls and allowed for community events. Started with Daytons (Target today ) and L.S. Donaldson (Carson Pirie Scott) ... later they added JC Penney. It was great to get inside from the harsh Alaska like climate of the outback called Minnesota! Sure was a respite since we did not make it as the "banana belt". I too will miss the indoor shopping malls. May be for the younger folks they will live again to see the Dinosaurs roam the earth ... I am too old

I generally dislike dealing with these new outdoor "retail districts." Sure, they look nice, but parking tends to be very annoying and I dislike having to walk in and out of stores in the cold Wisconsin weather, or a thunder storm, or on a sunny 100 degree day....

Re: Bon Ton is Closing Out Cards :(

MakingProgress — Fri, 20 Apr 2018 19:36:22 GMT

@Dalmus wrote:
Bon Ton is partially the victim of internet shopping, sure... but they are also a victim of their own stupidity. They leveraged too much debt to buy too many regional store brands and rather than consolidating them all under one name (short term hurt, sure, due to customer loyalty to the old name) and using national ad buys to efficiently market themselves, they kept all the regional names, pretty much forcing themselves into a bloated marketing budget that had to duplicate its efforts for each different store name.

Sad, for sure.

Bon Ton just continued what was happening with the stores they aquired. I worked for Bergner's for 10 years in the late 90s. Bergner's aquired Boston Store and they operated under both names. Then they aquired Carson', Pirie, Scott and they operated under three names. Then Saks Fifth Ave aquired Carsons, Bergner's and Boston Store, and they opeated under 4 names. At some point I lost track, Herberger's, and Younker's were aquired and Saks was spun off. Then Elder Beerman entered the picture to add another name, and finally Bon Ton.

I agree name confusion is a big problem, but ultimately I think it is that no one shops at traditional Department Stores any more. Sear's is about to go under and they have no name confusion.

Re: Bon Ton is Closing Out Cards :(

kberly69 — Fri, 20 Apr 2018 20:22:30 GMT

I'm really sad about it. I do a lot of internet shopping but I want to be able to see in person, feel, and try on clothes before I buy. Not a fan of the hassle of returns via mail/UPS/ Fed Ex. Younkers was my first (and usually successful) stop when I needed clothes or shoes. Waaaahhhh

Re: Bon Ton is Closing Out Cards :(

gdale6 — Fri, 20 Apr 2018 21:56:44 GMT

@Dalmus wrote:
Bon Ton is partially the victim of internet shopping, sure... but they are also a victim of their own stupidity. They leveraged too much debt to buy too many regional store brands and rather than consolidating them all under one name (short term hurt, sure, due to customer loyalty to the old name) and using national ad buys to efficiently market themselves, they kept all the regional names, pretty much forcing themselves into a bloated marketing budget that had to duplicate its efforts for each different store name.

Sad, for sure.

Bon-Ton did not take on the debts, the vulture capitalists that owned them loaded the corporation with debt while extracting all the worth for themselves its the same thing that happened to Toys-R-Us.

Re: Bon Ton is Closing Out Cards :(

Dalmus — Fri, 20 Apr 2018 22:04:47 GMT

@gdale6 wrote:
@Dalmus wrote:
Bon Ton is partially the victim of internet shopping, sure... but they are also a victim of their own stupidity. They leveraged too much debt to buy too many regional store brands and rather than consolidating them all under one name (short term hurt, sure, due to customer loyalty to the old name) and using national ad buys to efficiently market themselves, they kept all the regional names, pretty much forcing themselves into a bloated marketing budget that had to duplicate its efforts for each different store name.

Sad, for sure.
Bon-Ton did not take on the debts, the vulture capitalists that owned them loaded the corporation with debt while extracting all the worth for themselves its the same thing that happened to Toys-R-Us.

Exactly. Its the story of MANY venerable companies that went bankrupt. Whenever I see a reasonably sucessful private corp being acquired by a holding group, I cringe, an am not surprised when I hear about the bankruptcy 5-10 years later.

Re: Bon Ton is Closing Out Cards :(

Anonymous — Sat, 21 Apr 2018 01:00:57 GMT

Here's my take on the indoor shopping mall death. People got fat. Didn't want to walk from one end of the mall to the other. WalMarts have a dozen electric scooters each. Shopping malls had none.

There is also a direct correlation between the failure of indoor shopping malls and pharmacies being on every corner in town. The population grew old, they don't go shopping anyway and the younger generation buys everything on the internet.

I can tell you another trick. WalMart stopped their price matching policy except with their own website. Everything on WalMart.com that is edible is way more expensive on the internet than it is at a store. They kinda force you to visit their grocery section to shop. That way you'll walk by and pick up more stuff.

Re: Bon Ton is Closing Out Cards :(

FinStar — Sat, 21 Apr 2018 02:30:01 GMT

@kberly69 wrote:
I received an email today saying that my Younkers card is being closed due to the Bon Ton bankruptcy. Can't use it as of today, nor can we use any rewards accrued. It will be closed in June. Bummer

Yep, same thing here for Elder-Beerman and one of my oldest retail cards before they were transferred from HSBC to Comenity.