Boscov's may have a buyer
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#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:
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
#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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