SCOA Industries received a buy-out offer.

The offer, valued at about $574 million, is from a group headed by the Boston investment firm Thomas H. Lee Co. in conjunction with Drexel Burnham Lambert Inc. and includes “certain members of SCOA’s management” participating as investors, the Columbus, Ohio-based retailer reported. In the proposed acquisition, SCOA stockholders would receive $35 per share in cash for 85.7% of their shares and $35 per share in liquidation value of a new class of preferred stock for 14.3% of the shares.