According to recent press and people familiar with the matter, The Bon-Ton Stores, Inc. is hiring advisers to help it turn around its business and slash its debtload, as it struggles to cope with the sector’s downturn. Bon-Ton has tapped advisory firm AlixPartners LLP to provide operational advice on its turnaround efforts, and is also interviewing banks to appoint an advisor to review strategic options including debt restructuring, the sources said this week. The sources asked not to be identified because the deliberations are confidential. Read more on distressed companies.
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