Boston Store parent company The Bon-Ton Stores Inc. will shell out millions of dollars to lawyers and consulting firms for services rendered during the company's first month of bankruptcy proceedings, the Milwaukee Business Journal reported. Court filings show that department store chain operator Bon-Ton is requesting approval from the U.S. Bankruptcy Court for the District of Delaware to compensate those law firms and companies that have consulted with or represented the retailer during the first month of its chapter 11 bankruptcy case. The Milwaukee and York, Pa.-based company filed for bankruptcy on Feb. 4 and has utilized services from firms such as New York-based PJT Partners and AlixPartners LLP, among other companies. Bon-Ton's largest invoice for February is from PJT Partners, which has acted as the company's investment banker, according to court records. PJT is billing Bon-Ton $2.13 million — which includes a capital raising fee — for the first month for services such as: providing strategic advice; assisting Bon-Ton in identifying potential buyers; assisting potential buyers with due diligence on Bon-Ton; reviewing cash reporting packages and liquidity forecasts, among other tasks. Read more.
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