One of USA's largest department store companies, Bon-Ton Stores Inc., plans to liquidate all 256 of its stores. The Bon-Ton Stores, a chain of department stores that traces its origins to 1854, applied for Chapter 11 bankruptcy protection in February but failed to find a buyer –it  initially planned to close only about 40 locations. It has now received a winning bid from a joint venture, including Great American Group and Tiger Capital Group, to wind down its operations. Bon-Ton's stores are expected to close within the next 10 to 12 weeks, and going-out-of-business sales begin Friday 20 April in 212 stores and e-commerce websites under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers nameplates.

But Bon-Ton is not alone. Toys "R" Us filed for Chapter 11 bankruptcy last year and is liquidating and closing its 735 stores in the US, and Sears has lost billions of dollars since 2010.