Bon-Ton, the company that owns Herberger’s and Younkers, filed for bankruptcy in February and held a court-supervised bankruptcy auction earlier this week. Unfortunately, the only bidders were liquidators. Two days ago they announced they would be going out of business and all of their stores would be closing. The liquidators haven't announced specific deals, but late yesterday, they did confirm that going out of business sales will start today.

The Rochester Herberger's is located in the Apache Mall and the company has 11 other stores in Minnesota and more than 250 across the country. More than 500 Minnesotans will lose their job when the stores close.

The plan is to sell everything off in the next 10-12 weeks.

In other retail news, the future of Bed Bath & Beyond is in doubt. Read more about that company here. 

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