Boscov's may have a buyer

Boscov's may have a buyer

There are 2 comments on the The Morning Call story from Sep 19, 2008, titled Boscov's may have a buyer. In it, The Morning Call reports that:

Boscov's, the bankrupt regional department store chain, is seeking court approval for a possible sale to a Philadelphia firm.

Join the discussion below, or Read more at The Morning Call.

Ollie North

Hazleton, PA

#1 Sep 19, 2008
Several weeks ago there was a lot of coverage in the local media since there's a Boscov's store in downtown W-B and Scranton. A lot of people still view Al Boscov as a savior of downtown W-B due to both the store, and leading the preservation of the Kirby center.

Anyway, all along there was no mention locally about a possible sale until today:

But in the Baltimore Sun on-line a couple of weeks ago, there was a small article about the bankruptcy judge needing to approve a bonus/compensation plan for a number of Boscov's executives, contingent on them meeting certain financial goals:

http://www.baltimoresun.com/business/bal-bz.b...

In that article was a line that stated "...if a Chapter 11 plan is approved by the end of February or a going-concern sale is completed by early January." Nowhere else did I ever see a mention of a possible sale in PA media. In fact, they kind of denied a sale as an option numerous times.

Unfortunately, it's probably doomsday now for more stores.

“Being polite is not a weakness”

Since: Feb 07

Emmaus

#2 Sep 19, 2008
Well, my mother will be crushed. Personally, I've never been a fan of the stores. The ones that I've been to always seemed to be set up counter-intuitively. Bad "Feng-Shui" if you will.

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