READING, Pa.–Members of the Boscov’s family have offered to buy the $1 billion family-run chain that filed for bankruptcy protection in August, according to published reports.
Retired Boscov’s chairman Albert Boscov and his brother-in-law Edwin Lakin are part of the group that put in a bid for $1 billion retailer, reports said.
This month, Versa, a private-equity firm formerly known as Chrysalis Capital Partners, emerged as Boscov’s stalking horse—or lead—bidder.
Boscov’s officials did not return calls at press time.