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Struggling US department store, Bon-Ton – whose debts comprise more than $850 million (as of July 29) – has reportedly hired AlixPartners in a bid to turn around the business and slash its debt. According to Reuters, AlixPartners LLP will provide operational advice on the turnaround efforts, and will also interview banks to appoint an advisor to review strategic options, and debt restructuring. AlixPartners has recently advised several retailers in financial distress, including fashion house BCBG Max Azria Global Holdings LLC, which filed for bankruptcy in February.

bon ton

Peter Crush for Consultor.news

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