FINANCE

Boscov’s Sale Hearing Delayed

BY CSA STAFF

New York City A court hearing to approve the sale of Boscov’s was delayed for a fourth time on Thursday as the company’s founding family worked to finalize loans with lenders for the deal.

The company, which filed for bankruptcy protection in August, said on Nov. 4 that it had signed an agreement to sell its assets to a family group led by Albert Boscov and Edwin Lakin, terminating a previously announced deal with Versa Capital Management Inc.

The lawyer representing Boscov’s said the company is close to closing the deal.

Boscov’s has rescheduled its sale hearing for Tuesday, Nov. 18.

The company had originally planned to have its sale approved to Versa on Oct. 21, but delayed the hearing several times to address the new bid.

Both bidders offered the company a cash consideration of $11 million and the assumption of certain liabilities. Boscov’s said in court papers that Versa had been seeking to delay the closing of the sale until January, which could have meant a lower purchase price.

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Brown to serve as home solutions advisor for Meijer

BY CSA STAFF

GRAND RAPIDS, Mich. Katie Brown, author, syndicated columnist and host of “Katie Brown Workshop” on PBS, is partnering with Meijer to serve as the company’s “Home Solutions Advisor.” The announcement was made today by Dave Clark, vp of brand and product development at Meijer.

“Katie Brown brings such an appealing and engaging approach to everything from holiday entertaining to backyard gardening that we felt she was the perfect fit for Meijer,” said Clark. “She connects so strongly with our shoppers — from her Midwest roots to her fun and simple solutions geared to those who want to save time and money.”

In her new role, the author and TV host will help develop new product lines for Meijer and help spearhead a number of efforts designed to provide Meijer shoppers with practical and easy-to-follow solutions to projects in and around the home.

Brown has been the host of  the “Katie Brown Workshop” on PBS for the past four years. She was also previously the host of “Next Door With Katie Brown,” which aired on the Lifetime network.

“This is a long-term partnership we’re undertaking with Katie, and right now, we’re looking at a host of areas in which to best utilize her talents,” said Clark. “We’re excited about the possibilities that Katie presents — from branded product lines to online programs. She brings such a wealth of opportunities for us and our customers.”

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Rite Aid expands list of generics available through RX Savings Card

BY CSA STAFF

CAMP HILL, Pa. Rite Aid expanded the list of generic medications to more than 500 available at significant savings through its free RX Savings Card.

The card, which requires no membership fee and is free to anyone who enrolls, offers significant savings on more than 10,000 prescription drugs at all Rite Aid drugstores nationwide. It also provides an immediate 10% discount on more than 3,200 Rite Aid brand products, including 1,500 over-the-counter medications.

The Rite Aid RX Savings Card offers the best overall value to our uninsured patients, those without coverage for certain drugs and those who have reached their benefit limits, said Bill Wolfe, Rite Aid group vp of pharmacy. In just a few months, members have already saved over $15 million on their prescriptions, over-the-counter medicines and Rite Aid Brand items that are already a value over national brands.

Customers can get a list of the medications covered by the Rite Aid RX Savings Card at any Rite Aid pharmacy. The card can be used for prescriptions for any member in a family, including pets, but cannot be used in conjunction with prescription insurance. Those receiving benefits from publicly funded health care programs are ineligible.

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