The "going out of business sales will begin Friday and last for approximately 10-12 weeks in all stores", Bon-Ton media contact Christine Hojnacki said in a statement.
The sale of Bon-Ton Stores Inc.to a liquidation company awaits a DE bankruptcy judge's signature to finalize the deal.
Bon-Ton, which has been in business more than a century, declared bankruptcy in February.
The closure of Herberger's would be the second closure of an anchor store at Cedar Mall.
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Sales will begin in 212 stores and e-commerce websites under the The Bon-Ton Stores Inc., Herberger's parent company.
The company reported its stores, e-commerce and mobile platforms are open and serving customers.
About 20,000 employees nationally will be affected by more than 200 store closings.
Elsewhere in central Upstate New York, it operates stores in Watertown, Ithaca, Johnson City and Horseheads.
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Grantham, owner of His hair salon in the Center Mall, said if Herberger's does leave, he hopes another clothing store can be found to replace it.
It's the beginning of the end: Younkers' liquidation sale starts today. After that, all in-store and online sales, no matter when they were made, will be considered final, the company said.
Employees at the Olean store declined to comment Thursday, recommending questions be sent to a corporate official.
Court records say all stores are set to be closed no later than August 31.
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