Legendary department store chairman Albert Boscov died Friday of pancreatic cancer. He was 87.
Boscov's CEO Jim Boscov, Albert's nephew, announced his passing Friday night and described him as a giant of the retail industry.
"He was a man of vision and passion and he had a profound influence on the retail business community and the community at large," said Jim Boscov, the third generation of his family to lead Reading, Pa.-based Boscov's Department Stores.
"We are committed to continue on the strong foundation he has created and to carry on in the spirit and philosophy he's instilled. Building on his legacy we will remain the largest family owned department store in the country."
Albert Boscov last week told employees in a letter that he had been diagnosed with late-stage cancer and didn't have long to live.
He died in Reading, where his father founded the business in 1914.
Albert Boscov took over the company from his father in 1950 and became known for his attention to detail and involvement in every facet of the company.
After a long and successful career, he rescued the business when he came out of retirement in 2008 to buy it back amid bankruptcy.
The future of malls in the Lehigh Valley
Boscov's employs about 7,500 people and has 25 stores in Pennsylvania and 25 others spread across New Jersey, Maryland, Delaware, New York, Connecticut and Ohio, according to its website.
Locally, it has stores at the Palmer Park Mall in Palmer Township and the Lehigh Valley Mall in Whitehall.
Boscov's Department Stores today has sales in excess of $1 billion dollars. The company employs over 7,500 people.
"Like his father, Albert Boscov maintained the principles of hard work, honesty and treating customers fairly and with respect," the company said in a statement.
"He treated his co-workers like family and made shopping fun. A dynamic retailer and philanthropist, Mr. Boscov has been recognized for his considerable achievements both locally and nationally."
Jim Deegan may be reached at jdeegan@lehighvalleylive.com. Follow him on Twitter @jim_deegan. Find lehighvalleylive on Facebook.
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