LONDON (MarketWatch) -- About half the major suppliers to Boscov's, a family-held Reading, Pa.-based department store with stores across the mid-Atlantic, have halted merchandise shipments for lack of payments, The New York Post reported Friday, citing unnamed sources. In addition, big commercial lenders including CIT, GMAC and Milberg have stopped guaranteeing deliveries to Boscov's stores, the report added. Sources say Boscov's management is still looking for alternatives to a bankruptcy filing, including the closing of up to 10 money-losing stores, and the family that runs the store injected $28 million into it three weeks ago.
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