california's last local clothing department store to file bankruptcy... (Fresno: sale, buyers)

[FresnoFacts]

Originally Posted by rkb0305

In this economy, I'm expecting to see vacant retail spaces of all kinds.

As I'm reading the media coverage it looks like the experts agree.

"More than a dozen retailers, including Circuit City Stores Inc. and Linens ‘n Things Inc., have filed for bankruptcy in the past year. As many as 21 more may be threatened, said Howard Davidowitz, chairman of retail consulting and investment-banking firm Davidowitz & Associates Inc. in New York."
Bloomberg.com: U.S.

[the city]

i think the san luis obispo store will be sold to forever 21. they were the second canidate that wanted mervyn's location. dillards and macys seem to not have enough money right now to take over gottschalks.

[Twinkle Toes]

Originally Posted by Bluesbabe

Gottschalk's like a JC Penney's? As a kid I remember it being a higher class store. Mom shopped at the one in Fresno and that one was a few stories. It even had its own millinery section where women got help with hat fittings! The last time I was in a Gottschalk's was in Merced a couple of years ago.

But I like JC's. I always found Macy's way too expensive.

Just for the record, and so you don't think I'm biased ... I don't like Macy's either.

[Bluesbabe]

Originally Posted by Twinkle Toes

Just for the record, and so you don't think I'm biased ... I don't like Macy's either.

I do remember Dillard's when I lived in Austin, Texas for awhile. It was a lot like Gottschalks of decades ago (before it became more like a JC's.....).

Maybe the lot will just become a big Ross's or Loehman's.

[eureka1]

I LOVE Gottschalk's. It's the only store in Eureka where you can get Hot Cotton. Guess I didn't spend enough.

[Twinkle Toes]

Originally Posted by Bluesbabe

I do remember Dillard's when I lived in Austin, Texas for awhile. It was a lot like Gottschalks of decades ago (before it became more like a JC's.....).

Maybe the lot will just become a big Ross's or Loehman's.

Say it aint so!!!

[humboldtrat]

I know The City will like this: deadmalls DOT com

[DMenscha]

Chapter 11 is a reorganization, not a liquidation.

[FresnoFacts]

I've had a chance to read some of the documents filed with the court.
Kurtzman Carson Consultants LLC

The Chapter 11 plan calls for a March auction of the company with a stalking horse bid. In other words, Gottschalks will try to find a bidder who will set the starting price that any one else will have to exceed.

According to rumors in the retail industry trade magazines, it appears that the initial bid will come from China's Everbright Development and/or Spain's El Corte Ingles (aka Harris in the US), either individually or jointly in partnership. They appear to think they can get the company cheaper this way than having bought it before Chapter 11.

[the city]

I think if Gottschalks leases are sold, then it will be sold to Beall's Texas Inc. Then we will get Peeble's, not Beall's or Stage.