October 1, 1987
TWINSBURG, Ohio -- Pressures generated by Revco D.S.' nine-month-old leveraged buyout came to a head on October 1, 1987, when company founder and chairman Sid Dworkin resigned and was replaced by Boake Sells, the former president and chief operating officer of Dayton Hudson Corp.
Dworkin's son Marc, who had been executive vice president of Revco, also resigned at the time to join his father in buying from Revco four Get It For Less deep-discount stores as well as the company's stake in General Computer Corp., a maker of retail computers.
The arrival of Sells marked the beginning of a pivotal phase in Revco's turbulent history, one …
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