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Peoria's Bergner's at the Shoppes to close?

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by: 13 10k+ OP
~ 7 years ago Apr 11, '18 6:37pm

Peoria's Bergner's at the Shoppes to close?
"PEORIA, Ill. (WEEK) -- -
We have new information tonight on the possible future of area Bergner's locations.
We've received a copy of a letter sent to Bergner's employees at the Shoppes at Grand Prairie.
The letter tells employees "You should not plan on having employment beyond the dates set forth above."
That date is June 5, 2018.
The letter details the parent company Bon-ton Stores intention to sell the company, and states, "We cannot guarantee that sale will happen."
In the meantime, the letter indicates the timetable for all this is up in the air apologizing to employees.
If the store closes, the letter said "It is expected to be permanent."
www.week.com/story/3 7935097/exclusive-be rgners-employees-not ified-of-potent

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14 10k+
~ 7 years ago Apr 11, '18 6:44pm

Does this mean that if this store closes the Sheridan Village storewill remain open? This link doesn't mention Sheridan Village. I know there has been rampant speculation about the Sheridan Village but, so far asI know,, nothing has been announced.

18 10k+
~ 7 years ago Apr 11, '18 6:45pm

Sounds like another closure in addition to Sheridan Village store. What about Pekin?

13 10k+ OP
~ 7 years ago Apr 11, '18 6:54pm

Sounds like another closure in addition to Sheridan Village store

@RambleOn :
That's how I understand it.
The Pekin store wasn't mentioned.

14 10k+
~ 7 years ago Apr 11, '18 7:18pm

Just thought of something. WEEK said they had a copy of a letter sent to Bergners employees at Grand Prairie. So they can't speak for the other stores in the area until they do some more investigating. There might be more chapters added to this story later.

13 10k+ OP
~ 7 years ago Apr 11, '18 7:33pm

@billybob :
I've done some searching, and it seems that the fate of Bon Ton (Bergner's parent company) is in question. They filed for bankruptcy months ago, and an auction was to be held this week. Two groups are vying for the company; one wants to liquidate ALL the stores (which include Carson's, Younkers, Bergner's, and others), the other wants to keep all the stores open. The auction has been moved to April 15th, and it seems the group that wants liquidation currently has the upper hand. If the group that wants to liquidate wins the auction, all the stores will close by June 5th. ðŸ˜³

14 10k+
~ 7 years ago Apr 11, '18 7:58pm

@JustRight :

I am really confused now. So what is the point of buying stores if you are going to liquidate all of them? Are they going after the real estate? Unless somebody has plans that we don't know about yet. Crazy.

13 10k+ OP
~ 7 years ago Apr 11, '18 8:04pm

@billybob :
Crazy, indeed!
Here's the best article I've found about it:
www.bizjournals.com/ milwaukee/news/2018/ 04/11/bon-ton-bankru ptcycourt-rulin

18 25k+
~ 7 years ago Apr 11, '18 8:08pm

I guess its time to go get a couple of new suits. Hate seeing these stores close. As long as people want to buy off the internet and phones they will keep closing.

People have become lazy.

10 10k+
~ 7 years ago Apr 11, '18 8:32pm

So what is the point of buying stores if you are going to liquidate all of them?

@billybob : What, you never saw the first "Wall Street" when Gordon Gekko wanted to buy Blue Star airlines???

14 10k+
~ 7 years ago Apr 11, '18 8:57pm

The Pekin store wasn't mentioned.

@JustRight :

The Pekin store has always done ok. From what I understand, they are making sales projections, but not much more. My brother-in-law went back to work last month after being off for 3 months for heart rehab, but he will probably retire soon. Plus, Pekin Bergners owns their building vs. having a lease on it.

13 10k+ OP
~ 7 years ago Apr 11, '18 9:59pm

The Pekin store has always done ok. From what I understand, they are making sales projections, but not much more.

@DennisinPeoria:
It doesn't sound like the profitability of individual stores will be considered if the group that wants to liquidate wins the auction.

Here's hoping the other group prevails.

4 1k+
~ 7 years ago Apr 12, '18 8:11am

Wow that will really hurt Grand Prairie. I at least hold out hope they aren't desperate enough to put something like Round 1 in that space though. Big box stores are dying just like the mom and pop shops died when the big box stores arrived. That's the changing of the times, it will never stop.

13 10k+ OP
~ 7 years ago Apr 12, '18 8:24am

@lanestar7 :
I rarely shopped/shop there, even when most of the spaces were filled. Have they filled the old Coldwater Creek space? Or the Johnny's Italian restaurant? What other spaces there are empty?

4 1k+
~ 7 years ago Apr 12, '18 9:28am

I can hardly remember where Johnny's was but I think it's now H&M. Coldwater is still empty as far as I know, the Halloween stores go there in the fall but nothing permanent. If their online map is correct they have 16 empty storefronts out of 51 total so they are 31% empty. But Bergners is their biggest anchor and judging by the way big box stores are collapsing, getting something else that size in there will be extremely difficult.

14 10k+
~ 7 years ago Apr 12, '18 2:23pm

@JustRight
I guess I wasn't aware or forgot that Johnny's Italian Restsurant closed the Grand Prairie location. Did that happen after they opened in East Peoria? Have not been there in awhile but have been there a couple of times. Always very good food and service.

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