HAMBURG, N.Y. — From the outside Wednesday, it looked like a normal day at Bon-Ton at the McKinley Mall, but behind the scenes, an eleventh hour effort to save the store from closing hit a wall.

On Wednesday, a group of investors paid $775 million to liquidate the department store chain. Customers say they're sorry to hear the news.

"I think it's indicative of, or may speak poorly, regarding the number of people supporting local business franchises," said Orchard Park resident Mary Ruh.

Bon-Ton is just the latest major retailer to close its doors after filing for bankruptcy or in an effort to save money. This latest closing follows Macy's, Sears and most recently Toys R Us.

"What we really have going on in my opinion is pressure on two different fronts or along two different lines, if you will. We have continued pressure from mass merchandise discounters like Walmart. On the other hand, we have pressure from online shopping platforms like Amazon,” said UB School of Management Professor Charles Lindsey.

He says it’s not surprising because Bon-Ton has been struggling for nearly ten years. He worries the closing could have a ripple effect at malls like the McKinley Mall, that's been struggling to stay alive.

"This is going to be the third anchor store that they lose, and it takes them below an 80 percent occupancy rate, and that's normally the benchmark. When you go beneath that, the 80 percent occupancy rate, industry analysts start worrying and seeing the mall itself as being at risk," said Lindsey.

The manager of the McKinley Mall Bon-Ton did not immediately return a request for comment.

The details of the liquidation sale are still being worked out, but experts say the process could take about 12 weeks. In all, about 27,000 workers nationwide are expected to be impacted by the closings. Lindsey fears it won't be the last.

"I think we're going to see more of the same over the next few years, and when the dust settles three years down the road, five years down the road, ten years down the road, what the landscape is going to look like, I don't think anybody knows right now," said Lindsey.

Bon-Ton has eight locations in Western New York.