log in to manage your profile and account
- Create your account
- Receive up-to-date newsletters
- Set up text alerts
Published: Thursday, February 01, 2018 @ 7:35 AM
— The Bon-Ton Stores Inc. announced 42 locations that will close under its “store rationalization program.”
Only one store in Ohio will shut down. Elder-Beerman at the Northtowne Mall in Defiance was named as one of the impacted stores. No Elder-Beerman stores in the Dayton region are impacted by this round of store closures. The stores are expected to close in early 2018.
» TRENDING BUSINESS NEWS: Is bankruptcy next for Bon-Ton? Retailer’s demise could impact Dayton
Bon-Ton has partnered with a third-party liquidator, Hilco Merchant Resources, to help manage the store closing sales. The store closing sales are scheduled to begin today and run for approximately 10 to 12 weeks. Associates at these locations will be offered the opportunity to interview for available positions at other store locations.
“Including other recently announced store closures, we expect to close a total of 47 stores in early 2018. We remain focused on executing our key initiatives to drive improved performance in an effort to strengthen our capital structure to support the business going forward,” said Bill Tracy, president and chief executive officer for The Bon-Ton Stores.
Here’s the list of impacted stores:
|Herberger’s||Pine Ridge Mall||Chubbuck||Idaho|
|Carson’s Clearance Center||Aurora Shopping Center||Aurora||Illinois|
|Carson’s Clearance Center||Village Plaza||Morton Grove||Illinois|
|Carson’s||Streets of Woodfield||Schaumburg||Illinois|
|Carson’s||Fair Oaks Mall||Columbus||Indiana|
|Carson’s||Circle Centre Mall||Indianapolis||Indiana|
|Carson’s||Five Points Mall||Marion||Indiana|
|Younkers||College Square Mall||Cedar Falls||Iowa|
|Younkers||Westdale Mall||Cedar Rapids||Iowa|
|Elder-Beerman||Kentucky Oaks Mall||Paducah||Kentucky|
|Carson’s||Orchards Mall||Benton Harbor||Michigan|
|Herberger’s Clearance Center||Birch Run Station||Maplewood||Minnesota|
|Bon-Ton||Steeplegate Mall||Concord||New Hampshire|
|Bon-Ton||Phillipsburg Mall||Phillipsburg||New Jersey|
|Bon-Ton||Aviation Mall||Queensbury||New York|
|Bon-Ton||Salmon Run Mall||Watertown||New York|
|Bon-Ton||The Point at Carlisle Plaza||Carlisle||Pennsylvania|
|Bon-Ton||The Johnstown Galleria||Johnstown||Pennsylvania|
|Bon-Ton||Susquehanna Valley Mall||Selinsgrove||Pennsylvania|
|Bon-Ton||Nittany Mall||State College||Pennsylvania|
|Herberger’s||Cache Valley Mall||Logan||Utah|
|Younkers||Fox River Mall||Appleton||Wisconsin|
|Boston Store||Heritage Village||Beaver Dam||Wisconsin|
|Younkers||Forrest Mall||Fond Du Lac||Wisconsin|
|Younkers||Lakeshore Edgewater Plaza||Manitowoc||Wisconsin|
|Younkers||Pine Tree Mall||Marinette||Wisconsin|
|Boston Store Clearance Center||5659 S. 27th Street||Milwaukee||Wisconsin|
|Younkers||Wausau Center Mall||Wausau||Wisconsin|
|Bon-Ton||St. Lawrence Centre||Massena||New York|
|Bon-Ton||University Mall||South Burlington||Vermont|
|Elder-Beerman||Grand Central Mall||Vienna||West Virginia|
FIVE FAST BUSINESS READS
Published: Sunday, February 18, 2018 @ 10:29 AM
— Greg Barney’s journey to owner of Unibilt Industries Inc. has included everything from accounting to framing homes.
After working as Vandalia’s Unibilt as vice president of business development for several years, took the helm Jan. 1, buying a company that has built more than 12,000 modular homes since the late 1960s.
Barney bought the company from Sharon and Doug Scholz, who decided to retire.
Scholz’ father Carl started Unibilt in 1969. Barney’s father, Jack, worked with Carl Scholz in the 1950s at Vandalia Sales; the elder Barney started Vandalia Rental in 1961, and that company is now a busy equipment rental business run by Barney’s nephew, Kurt Barney.
3 QUICK READS YOU MAY HAVE MISSED
• Attorneys for DP&L: Utility needs $55M for ‘reasonable rate of return’
• St. Mary’s trailer dealer opens Harrison Twp. site
Unibilt builds modular homes inside an manufacturing complex on Johnson Station Road in Vandalia where weather doesn’t affect storage or construction.
By the time modular homes are placed on their foundations, the structures are 85 percent complete.
“These are built exactly like you build a home out on the job site,” Barney said. “They’re just built in pieces and (shipped) right out to the job site.”
The University of Dayton graduate worked for accounting firm Ernst and Young for eight years before getting into developing and residential “stick-framing.” (“Stick-framing” or “stick-building” are terms Barney uses for building a home on site once lumber and parts have been delivered. The entire house is raised on site.)
Then the Great Recession turned his head around.
“I got through the downturn and kind of re-evaluated everything,” Barney said. “The downturn kind of decimated the industry. A lot of people retired and moved on.”
Young people were avoiding construction trades. Demand for new homes didn’t appear to be there. Even today, in a period of renewed demand, it’s difficult to find qualified trades people, Barney said.
Still, the pull of home-building — modular home-building — was there for Barney.
“I view this as something that will become a little more prominent in the industry,” he said. “Right now, you see a lot of people looking at different ways, better ways, to build houses.”
Home-building really hasn’t changed in decades, he said. The lack of qualified trades people — carpenters, framers, plumbers, electricians and many others — are forcing a new look at how homes are built.
“It’s become extremely expensive and really only an affordable product (for the builders) for the higher-end homes,” he said.
Modular building is faster and efficient, Barney believes. All materials are nearby and weather delays aren’t a factor. Framers, plumbers, electricians, drywall finishers and others work at the same station of the build process where perform the same job every day.
TOP BUSINESS STORIES OF WEEK
Unibilt has 86 employees and is hiring. Barney sees a need for a dozen more employees before 2019.
Materials enter into one end of Unibilt’s 120,000-square-foot production site and at the other end are largely finished homes.
He doesn’t expect modular construction to overtake stick-framing. But he does believe growth is likely.
“I think the thing we fight is a stigma,” Barney said. “Everyone looks at us as a manufacturer of double-wides. And it’s just not like that.”
Unibilt offers a range of custom options, he said.
Published: Saturday, February 17, 2018 @ 3:23 PM
— Winn-Dixie owner Bi-Lo is preparing for bankruptcy, according to a Bloomberg report.
Up to 200 stores could close as part of a bankruptcy filing, Bloomberg reported. According to Winn-Dixie's website, the retailer has locations in Florida, Georgia, Alabama, Louisiana and Mississippi.
The bankruptcy filing could come as early as next month, Bloomberg reported.
Bi-Lo has not publicly confirmed any bankruptcy plans.
Published: Thursday, February 15, 2018 @ 2:51 PM
— Gibson guitar company, which has been a staple brand among various musical instruments since 1902, is facing bankruptcy.
According to the Nashville Post, Gibson’s chief financial officer, Bill Lawrence, left after six months on the job and just as $375 million in senior secured notes mature and another $145 million in bank loans become due if they aren’t refinanced by July. The departure of Lawrence was seen as abrupt and a statement about the desperate situation Gibson is in currently.
The company, which generates $1 billion a year in revenues, recently moved out of its Nashville warehouse, where it had operated since the mid 1980s.
The company owner since then, Henry Juskiewicz, is trying to re-order the company according to the Post but is facing a battle with creditors over bad business decisions. The company recently sold Baldwin piano, and is hoping to see a boost in cash from the various electronics companies it had purchased the last several years.
Gibson began in 1902 in Kalamazoo, Mich., producing various instruments, including acoustic guitars and the Les Paul, designed by noted guitarist Les Paul, which became one of the most iconic instruments ever made. The Gibson Les Paul began production in 1952, and became a staple of the rock and roll movement since. The company since developed other iconic guitars such as the SG, Firebird, the Flying V and he ES-335 among others.
Published: Monday, December 04, 2017 @ 7:54 AM
Updated: Friday, February 23, 2018 @ 4:03 PM
— Roosters is planning to open a restaurant in Miami Twp., with plans to replace another nearby location.
A limited liability company affiliated with the casual dining chain bought a restaurant property at 9400 Springboro Pike, which was formerly home to Caddy’s Tap House.
Officials with Roosters couldn’t be immediately reached for comment.
Tracey Herron, with Equity Inc., who represented Roosters in the real estate deal, said the location will replace its smaller leased store at 103 N. Springboro Pike near the Dayton Mall.
The 8,500-square-foot restaurant is near the Interstate 75 and 675 interchange.
Roosters Real Estate LLC bought the property for $1.7 million in a sale recorded Dec. 1 by Montgomery County.
Caddy’s shut down its restaurant and bar at the location in May due to poor performance, the restaurant owner said at the time.
A marketing flyer by Oberer Realty, which had been listing the property for sale, stated about 54,832 people live within three miles of the restaurant with an average household income of $79,657.