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Chairman: Boscov's Not Collapsing

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Jul 27, 2008 10:56 am US/Eastern

Chairman: Boscov's Not Collapsing

READING, Pa. (AP) ― Some suppliers have stopped making shipments to the Boscov's chain of department stores.

Boscov's chairman and chief executive Ken Lakin says this can happen when his company is "one minute late" with payments.

But he says the company is making things right and will be well stocked for back to school and the holidays.

Lakin says sales are weak, but he says that's to be expected in a slow economy.

He says the company, based in Exeter Township near Reading, isn't seeking bankruptcy protection.

(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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