Edens Plaza Carson's Could Close By Year's End

WILMETTE, IL — One of the Wilmette's largest providers of sales tax revenue is headed out of business, village officials have been informed. The Carson's location at 3200 Lake Ave., in the Edens Plaza, is expected to close permanently by the end of the year, Pioneer Press reported. The store's owners, The Bon-Ton Stores, Inc. notified village officials earlier this month that layoffs are projected to begin on June 5.

About 140 employees would be laid off from the Wilmette location, according to an April 5 letter to Village President Bob Bielinski from Gail Monreal, Bon-Ton's vice president of human resources, reported Wilmette Life.

Wilmette officials told the paper Carson's was among the 10 largest sources of sale tax for for village coffers, although state law forbids disclosing the specific amount the store brings in.

The letter leaves open the possibility that buyers may swoop in to purchase the business and allow it to continue operations and preserve jobs, and Bielinski said the village was holding out hope the store would remain open.

The company has announced it is actively negotiating with an investor group to buy some of its remaining assets.

Bon-Ton declared bankruptcy in February and has already announced the closure of seven stores in Illinois, including in Chicago, Morton Grove, Schaumburg and Aurora. The Wilmette location escaped the ax in that round of closures.

A Bon-Ton spokesperson has not responded to a request for comment.

Earlier, the company declared its plans to close about 40 more locations during 2018 as part of what its president called its "comprehensive turnaround plan."

"We are taking the next steps in our effort to move forward with a more productive store footprint," CEO Bill Tracy said in a January statement.

The rest of Edens Plaza is owned by Joseph Freed Associates, whose president Larry Freed was found by a jury to have fraudulently obtained a $105 million line of credit for development projects in Chicago and the suburbs, according to Crain's. Freed was convicted in February 2016 of four counts of fraud and four counts of making false statements to a financial institution and sentenced to three years in federal prison in August 2017. Caroline Walters, another executive with the firm, received a six month prison sentence after negotiating a guilty plea.

Related:

• 7 Illinois Carson's Stores Closing
• More Than 400 Carson's Employees Laid Off
• Bon-Ton Stores Closing At Least 40 Locations In 2018