Aug. 5--Business as usual prevailed Monday in Fairlane Village mall at Boscov's Department Store, one of 39 that will survive the parent company's filing for bankruptcy protection in U.S. Bankruptcy Court in Delaware.

"It's a great store for us," Maralyn Lakin, senior vice president of the Reading-based department store chain, said Monday of the Schuylkill County store. "It's a profitable store for us. It's one of our hometown stores."

Local shoppers, in turn, also expressed happiness that the Fairlane Village store is not one of the 10 that will shut its doors in the wake of Boscov's Department Store LLC's voluntary petition asking for reorganization.

"You get good merchandise for a decent price," said Nancy Killian, New Ringgold, who was relieved that her favorite store would remain open. "They have good products."

The petition, filed under Chapter 11 of the U.S. Bankruptcy Code, plus a $250 million loan from Bank of America, will allow Boscov's to continue to operate during the back-to-school season that for retailers is second in importance only to Christmas, Chairman and CEO Kenneth S. Lakin said in a written statement.

Ken Lakin attributed the bankruptcy filing, which also could allow the company to restructure some of its debt, to the national economic downturn, slowing consumer spending and a tight credit market.

Those, in turn, placed pressure on Boscov's from its creditors, including its largest, clothing supplier Jones Apparel Group Inc., Bristol, which the chain listed in its petition as being owed $3,110,015.

However, those factors have not hurt the Fairlane Village store or the mall, said David Silver, corporate director of marketing for Levin Management Group, the mall's leasing agent.

"We felt that ... this store not (being) on the list of closings is very positive," he said of one of the mall's two anchor stores, the other being Value City Department Store. "It's a very strong store."

The store's strength, in turn, has helped the mall, which is adding two new stores, Harbor Freight Tools and Super Shoes, Silver said.

"The mall is doing better and better every day," said Silver.

In spite of large debts such as that owed to Jones Apparel Group, Boscov's in its petition said it had greater assets, $538 million, than liabilities, $479 million.

Daniel J. DeFranceschi, Wilmington, Del., the attorney who filed the petition for Boscov's, did not return telephone calls seeking comment on the case.

Boscov's will now be run jointly under Chapter 11 by its management and a committee of creditors comprised of representatives of the companies to which Boscov's owes the most. U.S. Bankruptcy Judge Kevin Gross, to whom the case has been assigned, also would have the power to order the appointment of a trustee to operate Boscov's.

Boscov's is not the only retailer with a Schuylkill County store to have filed for bankruptcy this summer in the wake of the national economic slowdown.

Steve & Barry's LLC, a clothing retailer with a store at Schuylkill Mall, filed for bankruptcy protection in July. Other major retailers that have sought bankruptcy protection this summer include catalog retailer Lillian Vernon Corp., home furnishings chain Linens 'n Things Inc., department store chain Mervyns LLC and specialty retailer Sharper Image Corp.

Ken Lakin said Boscov's will work with the creditors on the plan for reorganization, which it expects to file in the fall with the court.

Shoppers like Janette Shutt, Williamstown, hope that plan includes keeping the Fairlane Village and other Boscov's stores open.

"They usually have such good sales, a lot of selection," she said.

Shutt wants the Fairlane Village store to stay open so she can buy favorite products such as clothing, perfumes and cosmetics.

"They're usually middle priced. They're not overly priced," she said. "Their selection of merchandise is good. They're not junk."

Mary McDonald, New Philadelphia, also enjoys the selection and prices of the merchandise at Boscov's.

"I think their PR is good with their coupons and incentives," she said.

Those stories are exactly what Maralyn Lakin wants to hear from area shoppers.

"It's well stocked," she said of the Fairlane Village store. "We're ready to serve our customers. We want our customers to have a choice. We're going to be better than ever."

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