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Business
Bankruptcy sale of Boscov's chain nears completionPublished 11/19/08
WILMINGTON, Del. (AP) _ The bankruptcy sale of regional department store chain Boscov's to two former executives moved a step closer to fruition following a court hearing on Tuesday.
While several issues surrounding the sale were resolved Tuesday, a final sale order remains pending with another hearing scheduled for Friday.
The proposed agreement calls for Boscov's to be bought by the families of Albert Boscov and Edwin Lakin, the son and the son-in-law of the privately held company's founder. The deal is valued at between $275 million and $300 million. Boscov is former chairman of the Reading, Pa.-based company....
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