The dog days of summer have sent a chill through another regional department store chain as family-owned Boscov’s Department Stores has become the latest non-national player to lose at least some support in the credit community.
Vendor and credit sources said the factoring arm of CIT’s trade finance group on Monday put a “hold” on future orders to the Reading, Pa.-based chain. One source said CIT wanted more information from the retailer before committing to approval on future orders. CIT has not pulled support for back orders.
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