Indiana-based technology firm CSC Generation was named the successful bidder in acquiring the intellectual property of Bon-Ton, court documents show, and says it plans on reopening stores in five states while maintaining a large e-commerce presence.
The acquisition by CSC Generation, which brands itself on its website as a "decentralized, multi-brand technology platform that is saving companies from Amazon," doesn't necessarily spell the end for all former Bon-Ton-owned brick-and-mortar locations, a CSC spokesperson told USA Today.
"(CSC) is in advanced discussions with landlords about reopening stores in Colorado, Illinois, Indiana, Wisconsin and Pennsylvania," the spokesperson said, adding that those locations would likely be staffed by former Bon-Ton employees.
Bon-Ton, the bankrupt retailer, shut the doors of popular retailers Herberger's and Younkers last week after being in business more than 100 years. Bon-Ton formerly operated 28 locations throughout North Dakota, Minnesota and South Dakota.
The agreement, which was made in Delaware Bankruptcy Court on July 31, is pending court approval before becoming final.
The acquisition sheds some light on the future of Bon-Ton and its subsidiaries. On its website last week, Bon-Ton announced it was coming back and to "stay tuned for updates over the coming weeks," an announcement that was made just days after the company and its stores closed its doors nationwide.
Future reopened Bon-Ton locations will be reinvented and modernized, and feature personal styling services and extended hours on days when more customers may be inclined to shop, the USA Today reported. Even with the announcement that it would be reopening physical locations, CSC Generation co-President Jordan Voloshin says its primary focus will be on e-commerce.
"The new Bon-Ton is a department store tailored to the expectations of the modern customer," Voloshin said.
Other entities owned by CSC Generation include online home goods seller DirectBuy and apparel e-tailer, Killion.