Bon-Ton
This retailer has been around for 100 years! Just like how the saying goes, all good things must come to an end, but did they? Bon-Ton, a department store, and online retailer filed for bankruptcy last year. It was then sold and liquidated. However, in October 2018, it relaunched its site for e-commerce and announced its plans to reopen some of its stores. USA Today reported: “The reinvented Bon-Ton would be sleeker, more e-commerce focused business.” Bon-Ton was first established in 1898, and its heyday was between the 1900s and 2000s. CheatSheet reports that they were very successful in the past because they were in small towns with very little competition. However, Amazon changed the market for them. Another company that could benefit from observing the customer’s preference for e-commerce is Tops Market.
Bon-Ton
Tops Market
The most common reason why a company files for bankruptcy is its failure to keep up with the changing interest of their consumers. According to CheatSheet, this is exactly the case with Tops Market. With more and more shoppers interested in non-traditional food sellers, competition, and falling food prices, Tops Market had no choice but to file for Chapter 11 bankruptcy. However, shoppers can still go to Tops. For now, The East Coast grocery chain will keep most of its stores open in Pennsylvania, Vermont, and New York. The Buffalo News gives us a glimmer of hope for the company, saying that in July 2018 the company was freed from the $80 million annual interest it had to pay in 2017.
Tops
