The final 10 department store properties formerly owned by Wisconsin-based The Bon-Ton Stores Inc., including one in Indiana, will be auctioned off later this month. The auction comes a year after the retailer announced it was closing more than 40 stores nationwide as part of its "store rationalization program."
The properties being auctioned off are located in six states. The Indiana store is the former Elder-Beerman location in downtown Richmond.
In a news release, Michael Jerbich, a principal at real estate advisory and brokerage firm A&G Realty Partners, which is handling the auction, said, "Local officials in Richmond are reportedly in preliminary talks about a comprehensive downtown revitalization plan, and the idea has been floated of turning this former store into a conference center. The building is next to a large city-owned parking lot and right across from the city parking garage."
The auction will begin January 28 in New York City. All bids are due by January 25.
The Bon-Ton Stores announced last January it was closing five Carson’s department stores in Indiana. In April, the store in Merrillville as added to the list. The closures affected nearly 450 Hoosier jobs.