Buyers found for Bergner's parent Bon-Ton - WEEK.com: Peoria-area News, Weather, Sports

Buyers found for Bergner's parent Bon-Ton

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Bergner's Bergner's
PEORIA, Ill. (WEEK) -- -

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. 

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