PEORIA — The Bergner's name is back in business, but online only for now and with little indication whether the three Peoria-area department stores also will be revived.
The bankrupt parent company Bon-Ton stores relaunched its associated nameplates as online retailers under new ownership: Indiana-based technology and retail investment firm CSC Generation.
CSC Generation bought Bon-Ton's trademarks and various intellectual properties for $900,000 in bankruptcy court before relaunching online versions of chains such as Bergner's, Boston Store, Carson's, Elder Beerman, Herberger's and Younkers over the weekend.
Bon-Ton filed for Chapter 11 bankruptcy in February and was unable to secure an investor to continue operating normal business, leading to liquidation beginning in April.
Although all Bon-Ton’s stores — including two Peoria locations and one Pekin store — closed by Aug. 29, CSC Generation is in discussions with landlords about reopening stores in Colorado, Illinois, Minnesota, Wisconsin and Pennsylvania. The company plans to recruit former Bon-Ton employees, according to a prepared statement.
The company did not identify any specific cities where stores could reopen, and Peoria-area representatives for the properties could not immediately be reached on Monday.
“We are sprinting to get as much done as possible before the holidays,” said Jordan Voloshin, co-president of CSC Generation, in a statement. “We hope that our track record of revitalizing retailers reassures Bon-Ton customers that the company is in safe hands.”
CSC Generation was founded by serial technology entrepreneur Justin Yoshimura and in 2017 bought home furnishings company DirectBuy out of bankruptcy. CSC Generation has also bought leasing company LeaseCo and men’s apparel company Killion.
“Over the last 120 years, Bon-Ton has touched the lives of tens of millions of Americans,” Voloshin said. “The new Bon-Ton is a department store tailored to the expectations of the modern customer. Additional services — ranging from personal styling to interior design — will be provided in store and online, as well as more flexible ways to pay through Bon-Ton’s new store card and lease-to-own service.”
Journal Star reporter Matt Buedel contributed to this story.