A private-label credit-card provider will pay The Bon-Ton $50 actor to about-face its business there.
The acquittal from Alliance Data Systems to The Bon-Ton was appear in a filing with the Securities & Exchange Commission this week.
The Bon-Ton’s accepted proprietary acclaim agenda affairs will abide in abode until the about-face occurs, accepted in mid-2012.
Customers should abide to use their Bon-Ton acclaim cards in the aforementioned address as they do today, The Bon-Ton said.
Besides the signing benefit of $50 million, The Bon-Ton will accept alternate royalties based on a allotment of acclaim agenda sales and outstanding acclaim balances.
The accord with Alliance runs seven years, with a brace of two-year face-lifting options.
The Bon-Ton’s accepted credit-card provider, HSBC, has notified The Bon-Ton that it will aish their acceding on June 20. HSBC has been The Bon-Ton’s agenda provider back 2005.
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