Bon-Ton has hired consulting firm AlixPartners to provide operational advice regarding its turnaround efforts, while restructuring advisory PJT considers refinancing of the company’s debts, Consultancy.uk reported yesterday. The beleaguered bricks and mortar retailer is also reported to be interviewing banks to appoint an advisor to review strategic options including debt restructuring. Bon-Ton Stores is one of the largest regional department store chains in the U.S., operating about 260 stores primarily in the Northeast and Midwest of the country, under the names Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers. The American retailer has subsequently been facing significant sales declines. At the end of Q2 2017, Bon-Ton reportedly had $856 million in long-term debt, while holding $6 million in cash, putting its net debt at around $850 million.
