By  on January 16, 2018

The Bon-Ton Stores Inc. gets nearly another two weeks of breathing room.

The retailer has entered into forbearance agreements with its ABL credit agreement lenders and an ad hoc group of holders of the company’s second lien secured notes due 2021. Under the terms of the agreements, the retailer has at least until Jan. 26 before the lenders and holders can exercise whatever option they choose in connection with Bon-Ton’s failure to make the interest payment on the notes. Bon-Ton was supposed to have made a $14 million interest payment on Dec. 15.

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