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 Albert Boscov and Edwin Lakin, canceling the earlier agreement with Versa, and keeping the 98-year-old chain under family control.
In October 2008, Albert Boscov and Edwin Lakin attempted to buy back the Boscov's chain from a previous deal. On November 4, 2008, they successfully bought it back from Versa Capital Management, Inc., keeping the store under family control.