The Bon-Ton Stores, Inc. announced that it has amended its $880 million ABL Tranche A and Tranche A-1 credit facility, providing the Company with immediate flexibility and substantial additional liquidity under its current credit facility.

According to a regulatory filing, Bank of America agented the facility.

Nancy Walsh, Bon-Ton’s Executive Vice President and Chief Financial Officer, commented, “We are pleased with this amendment which immediately provides us with additional liquidity cushion and strengthens our financial flexibility through the holiday season. We appreciate the ongoing support of our bank group as our team continues to execute key operational and financial initiatives focused on positioning the business for both near- and long-term profitable growth.”

William Tracy, President and Chief Executive Officer, commented, “As we build our inventory position heading into the holiday season, we are pleased to have increased access to capital. We look forward to continuing to work closely with our vendor partners to ensure we are delivering quality merchandise and an exceptional shopping experience for our customers in our stores and online.”

The amendment is subject to certain terms and conditions.  In August The Bon-Ton Stores hired AlixPartners LLP to provide operational advice on its turnaround efforts, and has retained and PJT Partners Inc. who will continue to provide operational and financial advisory services.

The Bon-Ton Stores, Inc. operates 263 stores in 25 states, under the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's and Younkers nameplates.