Trump Bids $21.75 Million for Bonwit Teller Stores
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NEW YORK — A consortium including real estate tycoon Donald J. Trump bid $21.75 million Monday for five Bonwit Teller department stores, including the chain’s flagship outlet in Manhattan’s glitzy Trump Tower.
The retailer’s creditors rejected a request by a group that included a former Bonwit chief executive for a two-day extension to secure financing for a planned bid. The creditors said a delay could threaten bids by the Trump group and others.
The Trump group, which entered its bid at a bankruptcy court hearing, proposed buying Bonwit Teller properties in Boston, Buffalo and Manhasset, N.Y., and Short Hills, N.J., in addition to the main Manhattan store.
The group would forgive $269,000 in financial obligations on the stores in Trump Tower and Short Hills and match whatever the final bid is for liquidating the inventory at the Boston and Buffalo stores.
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