Struggling retailer Bon-Ton Stores Inc. has put together a turnaround plan focused on closing underperforming stores, providing more sought-after merchandise, improving its marketing and increasing online-related sales by 50 percent in the next two years, the Milwaukee Journal Sentinel reported. Details of the turnaround plan were disclosed yesterday in connection with a debt restructuring that Bon-Ton is working on with its debt-holders. Bon-Ton, which has dual headquarters in Wisconsin and York, Pa., has been unprofitable for the past six years and recently missed a $14 million debt payment, fueling speculation the company would file for bankruptcy. The company, which owns Boston Store, Younkers and other department stores, has debt of about $1.1 billion. Documents made public Monday indicate the restructuring could take place out of court or in bankruptcy court with a chapter 11 filing as soon as Feb. 4.
