WXYZ-TV: Marketing Professor Jeff Stoltman interviewed on Carson's closures
The future of three department stores is in jeopardy after their parent company filed for bankruptcy earlier this year. The Carson's in Rochester Hills, Clinton Township and Livonia may have to close as Bon-Ton filed for bankruptcy two months ago. Mike Ilitch School of Business Marketing Professor Jeff Stoltman was interviewed about the issue on the air.
Those three locations originally operated as Parisian stores until its parent company Belk sold them to Bon-Ton. According to CNBC, two U.S. mall owners, Washington Prime Group and Namdar Reality Group, are in talks to save Bon-Ton from liquidation. They are working to acquire the retailer out of bankruptcy. Bon-Ton also operates stores including Younkers and Herberger's. CNBC reports that Bon-Ton had received approval for a deadline extension for qualified bids, with an auction set for Monday, April 16.