Exterior view of a Bon-Ton store

Fourteen million dollars. Thirty days.

Those are the numbers facing The Bon-Ton Department Stores Inc. — a subsidiary of The Bon-Ton Stores Inc. — to pay in interest under the terms of an indenture governing its 8 percent Second Lien Senior Secured Notes due 2021. The payment was due on Dec. 15.

The subsidiary elected to exercise a 30-day grace period under the terms of the indenture agreement.

The delay in the payment isn’t exactly a surprise, given how poorly the retailer has been doing. The regional department store has been struggling for years to dig out from under its debt load.

Last month, Bon-Ton said it would close “at least” 40 doors. It currently operates 260 stores.

Bon-Ton also posted third-quarter net losses that widened to $44.9 million, or $2.19 a share, from $31.6 million, or $1.58, a year ago. Revenues for the quarter ended Oct. 28 fell 7.4 percent to $562.5 million, while comparable-store sales dropped 6.6 percent.

Also last month, shares of Bon-Ton began trading on the OTCQX Best Market, after having traded on the Nasdaq Global Select market. The move to the smaller market continues to help provide some liquidity for the shares. Before the change, the last time shares of Bon-Ton traded over $1.00 was on Oct. 27, and before that on March 17.

The retailer operates stores under the nameplates Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers.