Burlington Coat Factory's chairman of the board, president and CEO, Monroe G. Milstein was honored with the prestigious Master Entrepreneur Award at the 2000 Greater Philadelphia Entrepreneur Awards. The award was presented to Mr Milstein at a ceremony in the Pennsylvania Convention Center on Friday, June 23, 2000. The Entrepreneur of the Year Awards is sponsored by Ernst and Young. Winners are chosen in eight categories, along with two special awards. Mr Milstein is the first recipient of a Master Entrepreneur Award. Winners of the regional awards are eligible to win the national Ernst & Young Entrepreneur of the Year Award for Principle-Centered Leadership, presented by Franklin Covey Co. The national award recipient is announced at the Entrepreneur of the Year International Conference in Palm Springs in November. Monroe Milstein opened the first Burlington Coat Factory store in 1972, starting one of the most unique retail operations in the country. The store prospered by selling current fashions at everyday value prices, without the need to stock second quality merchandise. Today, the company owns and operates more than 280 stores in 42 states, all operating under the same fundamentals started by Monroe Milstein in 1972.