updated: 1/9/2007 1:21:29 PM
The Bon-Ton Stores, Inc. (NASDAQ:BONT) says it will change the Parisian store at Circle Centre Mall in downtown Indianapolis to a Carson Pirie Scott store. The company will also renovate the location to include a 15,000 square foot Home Store. Construction is scheduled to begin in March and will be be completed in July 2007.
Bon-Ton acquired the downtown location from Belk, Inc. in October.
Source: Inside INdiana Business
YORK, Pa.--The Bon-Ton Stores, Inc. (NASDAQ: BONT) today announced real estate initiatives regarding its Elder-Beerman and Parisian stores located in Beavercreek, Ohio; its Parisian Circle Centre store located in Indianapolis, Indiana; and its distribution center located in Ankeny, Iowa.
The Parisian and Elder-Beerman stores in the Fairfield Commons Mall located in Beavercreek, Ohio will undergo renovation and reconfiguration to accommodate ladies’ ready to wear, cosmetics, shoes, fashion accessories and intimate apparel in the 130,000 square foot Parisian location, and home, men’s, children’s and a 65,000 square foot furniture gallery in the 150,000 square foot Elder-Beerman location. The renovation is expected to begin in April 2007 and be completed in September 2007. Both locations will operate under the Elder-Beerman nameplate.
Plans have been approved to include a 15,000 square foot Home Store in the 144,000 square foot Parisian Circle Centre store located in Indianapolis, Indiana. Construction is scheduled to begin in March 2007 and be completed in July 2007. The Circle Centre location will operate under the Carson Pirie Scott nameplate.
For informational purposes, the Parisian stores operated by the Bon-Ton in the Detroit, Michigan market, one each in Laurel Park Place, Livonia; Meadowbrook Village, Rochester Hills; and Partridge Creek, which is scheduled to open in October 2007 in Clinton Township; will continue to operate under the Parisian nameplate.
Bud Bergren, President and Chief Executive Officer, stated, “We are pleased to offer our customers in the Beavercreek and Indianapolis markets a greater selection of merchandise, including a new Home Store in Circle Centre. We look forward to the opportunities the expansions will afford us. The additional space and remodels will allow us to increase the productivity of the stores and enhance the shopping experience for our customers in these markets.”
Additionally, the Company announced it will close its 124,000 square foot distribution center located in Ankeny, Iowa and consolidate the merchandise processing functions into its four remaining distribution centers located in Whitehall, Pennsylvania; Fairborn, Ohio; Rockford, Illinois; and Green Bay, Wisconsin. The Ankeny distribution center closing will be effective April 2007 and be reported to the appropriate state and local officials to the extent required by the WARN Act. It will impact approximately 60 associates. The affected associates will receive career transition benefits, including severance and state employment service support. The closing costs of the distribution center will not be material.
Mr. Bergren commented, “The Company continually reviews the allocation of its assets and, as a result, we decided to consolidate our distribution functions and close the distribution center in Ankeny. The remaining four distribution centers have the capacity to support the stores in this geographic area as well as to expand its services to support future growth. The Ankeny Distribution Center associates have continually performed well and we are very proud of their contribution. Closing this distribution center was a difficult decision.”
The Bon-Ton Stores, Inc. operates 283 stores, which includes eight furniture galleries, in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger’s and Younkers nameplates and, under the Parisian nameplate, one store in each of Indianapolis, Indiana and Dayton, Ohio and two stores in the Detroit, Michigan area. The stores offer a broad assortment of brand-name fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company’s website at www.bonton.com/investor/home.asp.
Source: Bon-Ton Stores, Inc.