Boston Store's parent company may be headed to liquidation - WAOW - Newsline 9, Wausau News, Weather, Sports

Boston Store's parent company may be headed to liquidation

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MILWAUKEE, Wis. (WISN) -

A deal to save Boston Store may have hit a snag.

According to our partners at BizTimes Milwaukee, a bankruptcy judge denied a request from the Bon-Ton, Boston Store's parent company, to pay some of the fees for the lone bidder looking to buy them out.

An investor group that included two mall owners, a private equity group and a Bon-Ton vendor signed a letter of intent on Fridayoutlining the terms of a deal that would have kept the current management team in place and the business operating

U.S. Bankruptcy Judge Mary Walrath said Wednesday she would not approve the payment, noting Bon-Ton was not paying the fees of any other bidders and that the offer from the investor group did not amount to a qualified bid at this point, BizTimes reported.

The ruling now means Boston Store's parent company may be headed for liquidation.

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