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New owner to revive bankrupt Bon-Ton after buying trademark


According to Market Intelligence, December 2022


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New owner to revive bankrupt Bon-Ton after buying trademark

Bankrupt U.S. department store chain Bon-Ton Stores Inc. is expected to reopen after an affiliate of multibrand technology platform CSC Generation Inc. paid $900,000 for the retailer's brand, websites, customer lists and other data, the Milwaukee Journal Sentinel reported, citing a court filing. The CSC Generation subsidiary outbid apparel company Christopher & Banks Corp. by $50,000 in an auction, according to the report.

French cosmetics giant L'Oréal SA, meanwhile, won the rights to data on customers who went to Bon-Ton stores for cosmetics, fragrances and other items after bidding $312,900, according to the report.

The newspaper added that according to the filing, the Bon-Ton database has about 24.5 million unique customer records with full name, mailing addresses and about 5.6 million email addresses.

Meanwhile, a representative from the CSC Generation subsidiary told USA Today that the agreement will still require approval from the Delaware Bankruptcy Court to become final.

The spokesperson added that CSC is also in advanced talks with landlords about reopening the Bon-Ton-branded stores in Colorado, Illinois, Indiana, Wisconsin and Pennsylvania. USA Today said the new owner will likely employ former Bon-Ton employees.

CSC Generation Co-President Jordan Voloshin told the newspaper in a statement that the new Bon-Ton stores will be "tailored to the expectations of the modern customer."

According to its website, CSC Generation is a decentralized, multibrand technology platform "that is saving companies from Inc." The firm is backed by investors including Panasonic Corp., China Science & Merchants Investment Management Group Co. Ltd., Khosla Ventures LLC, Conductive Ventures, Maveron LLC, Quest Venture Partners LLC, Scrum Ventures and Crosslink Capital Inc.

Bon-Ton started liquidation sales in April after the U.S. Bankruptcy Court approved the company's liquidation deal with a group of buyers. It closed its stores Aug. 29.