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Court records show the liquidation sales must be completed by August 31.

Bon-Ton Stores has won bankruptcy court approval for a sale of its assets, and it will shutter all 250 stores in 23 states by August 31.

The move impacts several local employees, who learned of the closure on Tuesday.

The Marshfield Younkers location inside Marshfield Mall is one of the stores to fall victim, as the Bon-Ton chain enters liquidation.

A bankruptcy court hearing is scheduled for Wednesday to approve the sale and liquidation details. That left only liquidation firms bidding for the company.

Bon-Ton notified the Wisconsin Department of Workforce Development earlier this month that it planned to close Younkers at the Oakwood Mall as well as other Wisconsin stores.

Bon-Ton Stores, which operates over 250 Herberger's and Younkers Department stores across the US, including a Herberger's store in New Ulm, announced Tuesday they are bankrupt and all stores are expected to close within the next few month.

"While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going concern, we are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations", said President and CEO Bill Tracy.

The company is responsible for 212 stores and websites, including Boston Stores in East and West Towne Malls in Madison as well as Janesville Mall.

Elder-Beerman is owned by Bon-Ton Stores Inc.