Saks and Bon-Ton both decided to use HSBC (Household International) to finance their in-store credit cards. HSBC Watch speculated almost two years ago that Saks was a troubled merchant. “Often when a merchant aligns themselves with a predatory lender they need every dime of profit, no matter how they get it. Saks […]
JULY 01, 2005 — The Bon-Ton Stores Inc. ,York, Pa., will likely bid on the Northern Department Store Group of Saks Inc., Birmingham, Ala., reports Women’s Wear Daily. Preliminary bids for the stores are due at the end of the week. Bon-Ton will likely team with a private equity firm in the bidding process. The […]
By Nov. 1, 2005, Bon-Ton it will phase out its corporate credit center and eliminating some 84 jobs. The Bon-Ton Stores Inc. operates several stores in the Buffalo area, among 139 department stores and two furniture stores in 16 states from the Northeast to the Midwest under the Bon-Ton and Elder-Beerman names. […]
06.22.2005, 02:10 AM - HONG KONG (AFX) - HSBC Holdings PLC said its retail services division is to acquire the private label credit card accounts and related assets of US retailer Bon-Ton Stores. In a statement, Bon-Ton said HSBC will pay it the outstanding balances associated with the accounts including a premium. It […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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