Herberger's store closing sales start Friday

Medals for Frank Harris European African Middle Eastern Campaign and World War II Victory medal

The closings affect Younkers stores in the Quad Cities - in NorthPark and SouthPark malls, plus nearby cities in eastern Iowa. Liquidation is expected to start shortly, with a final closing date of August 31.

The move impacts several local employees, who learned of the closure on Tuesday.

The winning bid for the retailer was about $777 million, Dow Jones reported, citing a person familiar with the matter.

A bankruptcy court hearing is scheduled for Wednesday to approve the sale and liquidation details.

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Bon-Ton has stores in the Eastern Hills Mall, McKinley Mall, Chautauqua Mall, Olean Center Mall and the former Summit Mall, as well as in West Seneca, the Town of Tonawanda and Lockport.

The liquidation sales are expected to run for approximately 10 to 12 weeks, according to the release. The group had requested $500,000 out of the bankruptcy estate for due diligence costs, but the judge denied the request, Patino said.

The department store chain that owns Carson's, Elder-Beerman, and Younkers was forced into filing for bankruptcy protection earlier in 2018, after racking up enormous debt while suffering from heavy online sales competition. That left only liquidation firms bidding for the company.

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