[6] After taking over the family business, Boscov expanded the original store at Ninth and Pike Streets in Reading.
[9][10] In August 2008, Boscov's filed for Chapter 11 Bankruptcy, citing deteriorating consumer and credit conditions during the economic crisis of 2008.
In October 2008, Albert Boscov and his brother-in-law Edwin Lakin both confirmed that they would be making a bid to purchase back the chain, competing against Versa Capital Management, Inc. On November 4, 2008, it was confirmed that Boscov's would be selling its assets back to the pair, canceling the earlier agreement with Versa, and keeping the 98-year-old chain under family control.
[12] The chain continued to thrive pursuing a slow-growth policy, and opened its 50th store, in Bridgeport, West Virginia, on October 7, 2023.
[citation needed] Boscov donated money to the Penn State Berks campus for its library, and to Genesius Theatre for restoration and further improvement of its main-stage building in Reading.
There he established the city's Entertainment Square, which today features several anchor institutions along with restaurants and businesses, including an IMAX theatre, Miller Center for the Arts, GoggleWorks Apartment Complex, and Boscov Plaza, along with GoggleWorks Center for the Arts.