Wait Just a Minute, Is Younkers Really Going to Close?
On Friday, (April 6) word started to creep out that the Sioux Falls Younkers store in the Empire Mall would be closing later this year. Come to find out, that news may be a bit premature.
Christine Hojnacki, a spokesperson for the parent company of Younkers, Bon-Ton told KSFY TV, the company is in negotiations with an investor group to potentially acquire the company.
If successful, KSFY reports that jobs and the company could be preserved through a sale process.
Bon-Ton was forced to notify the South Dakota Department of Labor that layoffs were scheduled to begin June 5. State labor laws require businesses to notify the state about potential job losses under certain circumstances. Should the Sioux Falls Younkers store end up closing, the company expects 158 employees to be affected.
According to KSFY, here is the full statement released by Bon-Ton earlier in the week:
“We are required to provide notification under certain state and federal laws of potential job losses even as we work diligently to complete a sale of the Company as a going concern. Bon-Ton is in active discussions with an investor group to acquire the Company in a court-supervised sale process. We are encouraged by the interest in Bon-Ton and we hope that jobs will be preserved through a sale process. We remain committed to pursuing the best path forward for the Company and its stakeholders, including Bon-Ton associates.”
All hope might not be lost quite yet Younkers shoppers. If you're like my wife, you've probably started a prayer chain by now. She went into full-out panic mode on Friday after news broke of the potential closing. Something about "where am I going to find my shoes now?"
Regardless, don't toss out your little black Younkers bucks coupon thingymajiggers quite yet gang.
Source: KSFY TV