Bon-Ton amends credit facility to sail through the holiday season

Struggling retailer Bon-Ton has amended its 880 million dollars ABL Tranche A and Tranche A-1 credit facility, providing the company with immediate flexibility and substantial additional liquidity under its current credit facility, just before the crucial holiday season.

In a press release, Nancy Walsh, Bon-Ton's Executive Vice President and Chief Financial Officer, said, commenting on the move, "We are pleased with this amendment which immediately provides us with additional liquidity cushion and strengthens our financial flexibility through the holiday season."

"As we build our inventory position heading into the holiday season, we are pleased to have increased access to capital. We look forward to continuing to work closely with our vendor partners to ensure we are delivering quality merchandise and an exceptional shopping experience for our customers in our stores and online," added William Tracy, President and Chief Executive Officer.

The Company has retained AlixPartners LLP and PJT Partners Inc. who will continue to provide operational and financial advisory services to the company.