sales falling over 6% in both the second and third quarters. On May 5, 2017, Bon-Ton Stores was informed its common stock was no longer in compliance with NASDAQ listing requirements, and the stock was de-listed from the exchange on December 6 and became listed in OTC Pink. In November 2017, the company announced a store closure program, stating 40 to 45 stores would close after the holiday season. Bankruptcy and liquidation During the first quarter of 2018, The Bon-Ton announced it would be closing 42 stores in 14 states, in addition to five stores previously announced. However, it was not enough to save the company from its large debt. On December 18, 2017, Bon-Ton Stores revealed it had failed to pay $14 million in interest that had been due December 15. The company entered into a grace period with its lenders. Analysis from Standard & Poor's downgraded the company into selective default, and predicted a bankruptcy or out-of-court restructuring at the conclusion of the grace period. In February 2018, The Bon-Ton Stores Inc. filed for Chapter 11 bankruptcy protection. The company had not made an annual profit since 2010. On April 9, 2018, it was announced that Washington Prime Group and Namdar Realty Group would bid to save Bon-Ton from bankruptcy. On April 17, 2018, however, the plans fell through because the court ruled the company would not be able to pay a $500,000 "work fee". On April 17, 2018, The Bon-Ton announced it would liquidate all 267 stores after The Great American Group LLC and Tiger Capitol Group LLC bid $775.5 million for the retailer and after converting its Chapter 11 bankruptcy to Chapter 7. They acquired the inventory and other assets of the company and sold it all off. On August 30, Great America Group said all Pennsylvania locations were officially closed, and buildings would be vacated by the next day. Revival and relaunch On August 31, 2018, The Bon-Ton Stores, Inc.-owned retail websites were updated with "Stay Tuned" messages, indicating that the company's respective brands would come back in some form; the liquidator stated that the company's intellectual property was being sold. On September 6, 2018, it was reported that the purchaser was Merrillville, Indiana-based CSC Generation, a holding company backed by Chinese and American venture capital firms, which owns the membership buying service DirectBuy. CSC Generation agreed to pay $900,000 for Bon-Ton's database of 24.5