Boscov's Department Stores completes successful going concern sale
Clients Boscov's Inc.
Jones Day represented Pennsylvania-based Boscov's, Inc. and its affiliated entities in their chapter 11 bankruptcy cases, including the successful sale of all of their assets as a going concern. The family-owned department store chain had approximately $1.3 billion in sales in fiscal year 2007. After stabilizing business operations and obtaining a $250 million debtor-in-possession financing facility, Boscov's, with the assistance of Jones Day, commenced a process to sell substantially all of their assets as a going concern. On December 4, 2008, the sale process culminated in the successful sale of substantially all of Boscov's assets as a going concern to BLF Acquisition.