READING, Pa. — Albert Boscov, the chairman of Boscov’s, has died at the age of 87.
A statement, released by the company’s CEO and Vice Chairman Jim Boscov, says, “Albert Boscov died of cancer on Friday evening. He was at his home in Reading surrounded by his loving wife and three daughters.”
Albert Boscov took the reins of the family business, started by his father in 1914, and is credited with the success of the company. Boscov’s LLC is the largest family owned department store chain in the country.
Jim Boscov, the current CEO, is the third generation of Boscov’s to head the company. It has sales over $1-billion dollars and employs over 7,500 workers.
“Like his father, Albert Boscov maintained the principles of hard work, honesty and treating customers fairly and with respect,” the statement continued. “He was a man of vision and passion and he had a profound influence on the retail business community and the community at large. We are committed to continue on the strong foundation he has created and to carry on in spirit and philosophy he’s instilled.”