BizPoll: Will Bon-Ton’s new leadership turn around the company?

Let us know what you think

Bon-Ton will liquidate.

Kathryn Bufano will resign as president and chief executive officer of The Bon-Ton Stores Inc. when her contract expires on Aug. 25. She will be replaced by Bon-Ton chief operating officer, William Tracy.

The Bon-Ton Stores Inc. headquarters in downtown Milwaukee.

In addition, Bon-Ton’s retiring board chairman Tim Grumbacher will be succeeded by his wife, fellow board member Debra Simon.

Like many retailers, Bon-Ton, the parent company of Boston Store with headquarters in Milwaukee and York, Pennsylvania, has struggled in recent years to attract customers as consumers shift more of their spending online and spend less time in stores. Last week, S&P Global Market Intelligence named Bon-Ton as one of the 10 retail companies most at risk to file for bankruptcy.

Bon-Ton reported a net loss of $63.4 million in 2016, and a net loss of $57.1 million in 2015.

Can new leadership turn around Bon-Ton and return it to profitability? Let us know what you think by taking the BizPoll.

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Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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