"While we attempted to work with [CIT] in order to continue the relationship, we did not believe it was in the best interest of Bon-Ton to agree to their newly requested terms," Bon-Ton said in a written statement. The company added that it's now moving to work directly with affected vendors "with whom we have good relationships." One supplier who accounted for a significant portion of CIT's exposure to Bon-Ton said the retailer has been paying for shipments steadily throughout the season. While CIT's exit will limit any post-holiday deliveries, an executive at the supplier said deliveries to Bon-Ton will continue as long as the checks arrive. Bon-Ton – which reported a narrower third-quarter loss this week as sales slipped 7.2 percent to $725 million – said yesterday it has "a strong financial base to meet all of our obligations." The retailer said its $241 million in excess borrowing capacity under its credit line was well above a $75 million covenant requirement.