Bergner's parent company may file for bankruptcy soon: report - WEEK.com: Peoria-area News, Weather, Sports

Bergner's parent company may file for bankruptcy soon: report

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Bergner's parent company Bon-Ton is being pushed toward bankruptcy by some of their largest creditors, a new report in Bloomberg said Friday.

Citing sources familiar with the matter, Bloomberg reports it is not clear if Bon-Ton would liquidate or reorganize if it does go bankrupt. The company could also combine some parts of its retail operations with another business. 

Last year, Bon-Ton announced plans to close at least 40 of their stores in 2018. The company is struggling under more than $1 billion of debt, a situation not helped by a poor holiday sales season. 

Locally, Bergner's has two stores in Peoria and one store each in Pekin, Bloomington and Galesburg. 

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