WILMINGTON, Del. — The bankruptcy sale of regional department store chain Boscov's to two former executives moved a step closer to fruition following a court hearing Tuesday

While several issues surrounding the sale were resolved Tuesday, a final sale order remains pending with another hearing scheduled for Friday.

The proposed agreement calls for Boscov's to be bought by the families of Albert Boscov and Edwin Lakin, the son and the son-in-law of the privately held company's founder. The deal is valued between $275 million and $300 million.

Boscov is the former chairman of the Reading, Pa.-based company. Lakin is a former president and co-owner.

Boscov's filed for Chapter 11 protection in August and said it would close 10 of its 49 stores. However, its Butler store will remain open.

The two men made a last-minute bid for the company, which terminated an earlier agreement to sell its assets to Versa Capital Management, a Philadelphia-based private equity firm, for $11 million and the assumption of debts.

Brad Erens, an attorney representing Boscov's, told judge Kevin Gross on Tuesday final details on financing and the payment of administrative claims must still be nailed down.

"We have a few loose ends to tie up, but we are very optimistic that we will get there," said Claudia Springer, an attorney representing Boscov, Lakin and other shareholders.

During a break in the hearing, Albert Boscov said he hopes the deal can be completed soon so stores can be stocked and ready for holiday shoppers.

"We don't have adequate stock right now," he said, adding every postponement in the case raises uncertainty in the minds of vendors and leads to interruptions in deliveries.

Several objections to the sale were filed, but most were resolved before Tuesday's hearing.