Bon-Ton Stores Inc. announced in a news release Thursday it plans to close 40 stores in 2018.
The York-based company said in a statement that its results in the third quarter fell short of expectations. The company did not announce which stores will close.
Comparable store sales were down 6.6 percent from the third quarter of 2016, according to the news release.
“We are working with our advisers to proactively engage with our debt holders to establish a sustainable capital structure to support the business,” William Tracy, president and chief executive officer, said in the news release. “We believe that the actions we are taking position us to drive improved and consistent financial performance over the long term.”