For Boscov's, the family owned department store chain that was founded in 1911, it's all over but the screamin'. Around Baltimore this will leave three local malls with big holes real fast. And, no long-term income from what turned out to be a short-term anchor tenant - many of the local Boscov's [Wiki reference] moved here and set up shop around 2006.
Marley Station, White Marsh Mall and Owings Mills Mall are losing Boscov's and that blue script logo.
By filing their Chaper 11 statements, Boscov's also put themselves up for sale.
I've only been to Boscov's a few times since they arrived on the scene here and wasn't at all impressed. There was nothing in or around Boscov's to tell me that they were any different than JC Penny, Sears, or the Macy's stores that were previously housed in the local Boscov's locations.
When will these department stores understand that they can no longer be all things to all people? We've lost more than a few chain stores to bankruptcy this year -- many with a great niche, which Boscov's didn't have.
The list of lost stores includes Steve & Barry's, Mervyn's, Bombay Company, Levitz Furniture, Linens and Things, Domain Home Furnishings, Friedman's Jewlers, 
Fortunoff's, Sharper Image, Lillian Vernon, Goody's Clothing and many, many more. I'm predicting, more to go this way before the end of the year - some will be big box stores.
It's really a shame. Being so large, yet still family-owned, Boscov's was a representation of how business once WAS. Therein lies the problem - times are changing. In difficult times like today, the convenience of the internet and high gas prices have left large retailers like Wal-Mart and Target at the forefront of success.
Today, it doesn't matter how you get there. All that matters is that you have a profit to show at the end of the quarter and the most creative and innovative companies that streamline themselves with today's world prevail.
Posted by: Custom Valances | Tuesday, August 05, 2008 at 02:28 AM