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Is Boscov's Another Troubled Retailer?

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Regional department story chain Boscov's is the latest retailer experiencing severe troubles, according to recent reports.

Just a couple of years ago Boscov's looked like a mover in the seemingly ever-troubled department store sector. It bought 10 stores from Macy's and the 97-year-old company seemed on the road to more expansion. Today, it apparently sits near collapse.

About half of the major suppliers to the 97-year-old, family-owned chain have halted merchandise shipments for lack of payment, sources told The Post.

Additionally, commercial lenders including CIT Group Inc , GMAC and Milberg have stopped guaranteeing deliveries to Boscov's stores, the paper said citing sources.

Pennsylvania-based Boscov's, which operates about 50 mid-price stores that sell clothing, appliances, electronics and furniture, is looking for alternatives to a bankruptcy filing, including the closing of up to 10 underperforming stores, The Post said.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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