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Court oks Boscov's going-out-of business sales

Fri Aug 15, 2008 9:23am EDT

NEW YORK, Aug 15 (Reuters) - Bankrupt U.S. department store chain Boscov's Inc has gained court approval for liquidators to immediately begin going-out-of-business sales at 10 locations, according to court documents.

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A joint venture between liquidators Gordon Brothers Retail Partners and Hilco Merchant Resources, which submitted the highest bid for the right to conduct the liquidations, may begin the discounts on Friday, according to court papers filed late on Thursday.

Boscov's said when it filed for bankruptcy protection earlier this month that it would seek to close the stores. Half of the ten stores are located in Pennsylvania, while the others are in Maryland, New Jersey and Virginia. (Reporting by Emily Chasan and Chelsea Emery; Editing by Derek Caney)

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