Bergner's parent company Bon-Ton has a group of potential buyers lined up.
The company signed a letter of intent Monday with three different companies to purchase Bon-Ton and its stores. Alternative asset manager DW Partners and real estate firms Namdar Realty Group and Washington Prime Group are expressing interest in acquiring the beleaguered retail chain.
Bon-Ton filed for bankruptcy in February. An auction of the company's assets is set for April 16, with a finalization of the sale expected later in the month.
Bon-Ton said it is "hopeful the sale process will preserve jobs," but it is unclear what the three potential buyers intend to do with Bon-Ton if they do close on the deal.
Bergner's has locations in Peoria, Bloomington, Pekin, Galesburg and Peru. Its longtime Sheridan Village location in Peoria recently closed.