Retailer Boscov’s files for bankruptcy protection

[sws4420]

Biggest family-owned independent department store closing 10 locations

READING, Pa. - The troubled department store chain Boscov’s is filing for Chapter 11 bankruptcy protection.

The Reading, Pa.-based chain also will close 10 stores. It otherwise will continue to operate without interruption during the reorganization.

The retailer, America’s largest family-owned independent department store, says filing for Chapter 11 protection gives it the tools and time to strengthen its balance sheet.

Boscov’s has stores in Pennsylvania, New York, New Jersey, Maryland, Delaware and Virginia. It is closing five stores in Pennsylvania, three stores in Maryland, one in New Jersey and one in Virginia.

The company recently acknowledged that some suppliers have stopped shipping merchandise to the company. Boscov’s blamed credit issues.


http://www.msnbc.msn.com/id/26010626/

[MedicCook]

Won't be a big loss to me.

[sws4420]

I like going there for some things. They have decent sales on clothes once in awhile. We almost bought our Christmas tree there one year, but I didn't have the $400 on me that they wanted for it. They have a pretty extensive Thomas section, which is always good considering my son is an addict.

[Dave]

I like to buy my suits from there.

[sws4420]

You ever try S&K? I bought my last couple from there. The prices were decent, the alterations were fast, and the suits looked good on me.

[Dave]

Yup. I've tried there and Mens Wearhouse also. For some reason I find the suits at Boscovs to fit me the best.

[sws4420]

Awesome. I'll keep that in mind if I ever need another suit.

[MedicCook]

I have one suit and it is laying on the floor. I will probably never wear it or any other suit again.