Phar Mor's Home Recovers Some Pride

When the Youngstown (Ohio) area had little else to boast of, at least people there could point to Phar-Mor, the fast-growing discount drugstore chain. Then it turned out that Phar-Mor's president, Michael Monus, and three associates had allegedly plundered at least $10 million from the company. Shortly after that revelation, the company filed for Chapter 11.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.