Liquidators run Boscov's closing sales
By Furniture Today Staff -- Furniture Today, August 25, 2008
READING, Pa. — Liquidators Gordon Bros. Group and Hilco Merchant Resources will be running the closing sales at 10 Boscov's department stores as part of the chain's restructuring plan under Chapter 11 bankruptcy protection.
The liquidation, approved by the court, was set to begin Saturday, Aug. 16, at three stores in Maryland, one in New Jersey, five in Pennsylvania and one in Virginia, according to Gordon Bros.
The 49-store Boscov's announced plans for the closings at the time of its filing. It cited the economic downturn, weak consumer spending and “the serious credit market crunch” as factors leading to its Chapter 11 filing. Among Boscov's largest home furnishings industry creditors are La-Z-Boy, Serta and Sauder Woodworking.
