Boston Store

More news now. Another major retailer announcing store closures. Bontan stores, the parent company of Boston Store says it will shut down 40 locations next year. Now one of the company's headquarters is right here in Milwaukee. Ricky Mitchell is live downtown with what company officials are saying today. Ricky. George and Carol, the company hasn't said yet which stores will close saying that negotiations are still ongoing with the landlords. But we do know that the location here downtown is safe. Dozens of stores under the Bontan company will be closing up shop next year. But shoppers downtown don't need to worry. Good pricing, good items. Judith Sh Everything's online now. Amazon, eBay. But why do you still I don't know, I'm old school. According to our partners at the Milwaukee Business Journal, Bontan stores made a deal with the city of Milwaukee saying it would extend its lease through 2028 and keep employment levels at 750 in exchange for a loan to fund a renovation project. So which locations will close? Company officials said on a conference call with investors this morning that sales performance and profitability are main factors. They are generally the negative cash flow stores we've talked about as well as more of our smaller doors. The closures are part of a large-scale plan by the company to improve sales n They're also updating the store's website and mobile app. The company joins a growing list of major retailers that have announced store closures this year. But industry experts say while that's the focus in headlines, they're actually seeing more stores opening than closing. Modern retailers, they say, are embracing both online and in store to best serve their customers. And Bontan stores operates about 260 locations across the country, mainly in the northeast, midwest and the great upper plains. Here in Wisconsin, we have about 30 store locations. Reporting live downtown, Ricky Mitchell, today's TMJ4. Thank you, Ricky.