News Flash. Boscov’s Files for Bankruptcy.

August 4, 2008 • Fashion


Another company is hit hard by the failing markets. 97-year-old Pennsylvania-based retailer, Boscov’s, filed for Chapter 11 protection today in a Delaware court, citing  a slowing consumer spending environment as a main factor necessitating bankruptcy.

The department store chain plans to immediately close 10 of its unprofitable stores of a total 49 locations, and is seeking a buyer to end the bankruptcy proceedings.  Furthermore it will liquidate  about $34 million in merchandise at sales set to commence August 15.

Read more about the company’s demise here, and visit Boscov’s website here.   

See the Top Ten Summer 2016 Trends for Women Over 40

Tags: , , ,

One Response to News Flash. Boscov’s Files for Bankruptcy.

  1. It’s really a shame. Being so large, yet still family-owned, Boscov’s was a representation of how business once WAS. Therein lies the problem – times are changing. In difficult times like today, the convenience of the internet and high gas prices have left large retailers like Wal-Mart and Target at the forefront of success.
    Today, it doesn’t matter how you get there. All that matters is that you have a profit to show at the end of the quarter and the most creative and innovative companies that streamline themselves with today’s world prevail.

Leave a Reply