Albert Boscov, American businessman, Died at 87


Albert Boscov was born on September 22, 1929, in Reading, Pennsylvania and died on February 10, 2017.

He was the chairman and chief executive officer of Boscov’s Department Stores.

His parents were Russian Jewish immigrant Solomon Boscov, who arrived in Reading in 1911.

During 1918, Albert’s father founded a dry goods store in a row house in Reading which Boscov assumed the helm of in 1954.

The business grew it into the nation’s largest family-owned department store with more than 50 stores in Pennsylvania, Maryland, New York, New Jersey, Delaware, and Virginia.

During early 2006, Albert Boscov retired as chairman transferring control to his nephew, Ken Lakin, who soon after purchased a 10 department store chain by borrowing heavily.

He had filed for Chapter 11 Bankruptcy, citing deteriorating consumer and credit conditions due to the economic crisis of 2008.

He was a philanthropist who donated money to Penn State Berks campus for its library, and to Genesius Theatre for restoration and further improvement of its main-stage building in Reading, Pennsylvania.

He died due to pancreatic cancer.

Albert Boscov passed away at 87 years old.