As he watches the store his grandfather founded in 1898 shutter, Tim Grumbacher has some advice for fellow retailers. “If I had had the foresight to realize I had to blow up the model, I would have,” he told the Wall Street Journal. Grumbacher is the former CEO, former chairman and largest shareholder of the department store chain Bon-Ton, which filed for bankruptcy protection in February of this year. Outsiders, such as Fitch Ratings’ Monica […]
source https://therealdeal.com/2018/06/03/bankrupt-department-store-heirs-parting-words-blow-up-the-model/
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