Saving Boston Store

After a week of swirling concerns that Bon-Ton Stores Inc., parent of Boston Store, Younkers, Herberger’s, and others, would soon close its remaining Wisconsin stores, including Madison’s two mall locations, as well as its Janesville store, there is good news to report.

An investor group has signed a letter of intent to keep the stores open. According to a release dated April 9, Bon-Ton has received an offer from an investor group composed of DW Partners, Namdar Realty Group (including its partner Mason Asset Management), and Washington Prime Group.

The deal is far from over, and an auction has been rescheduled, but stores and customers are likely breathing a sigh of relief. If the company closed all of its Wisconsin locations, including its downtown Milwaukee headquarters, a reported 2,225 jobs were at stake.