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

[the city]

Retailers Gottschalks and Goody's file for bankruptcy - Yahoo! Finance

Gottschalk's is going bankrupt. Possible replacements could be Dillards. who do u think will replace gottschalks? will it be different for each store maybe?

[NorthernCalifornia]

Dillards?? with a name like that they have zero chance in CA

[Twinkle Toes]

Gottschalks and Dillard both suck! Both stores are like a Sears or a JC Penney - stores that also suck.

[cabolissa]

Target, Walmart, Amazon.com, Overstock.com, EBay.com

[FresnoFacts]

It is possible the company could be bought and continue to operate under the Gottschalks name. Or it could be sold whole and converted to another chain. Or it could be broken up, slimmed down, etc.

The company only owns 5 store buildings, the rest are leases.

Gottschalks was in discussions with Chinese investors last month. The company also had discussions with Spain's El Corte Ingles.

Either of those could step up and buy the chain or it could be Dillards or another company.

The real problem is someone will need access to cash or finance at a time that credit markets are still weak.

For example, Dillards stock price has fallen from over $20/share in May down to only $4 now, Dillards cash on hand has also fallen sharply. That will make it hard for them to raise capital if they want to bid on Gottschalks.

We will know more as March 17th approaches.

[the city]

what about Bealls, the one owned by Stage Stores Inc. headquarted in Texas?

[the city]

Originally Posted by FresnoFacts

It is possible the company could be bought and continue to operate under the Gottschalks name. Or it could be sold whole and converted to another chain. Or it could be broken up, slimmed down, etc.

The company only owns 5 store buildings, the rest are leases.

Gottschalks was in discussions with Chinese investors last month. The company also had discussions with Spain's El Corte Ingles.

Either of those could step up and buy the chain or it could be Dillards or another company.

The real problem is someone will need access to cash or finance at a time that credit markets are still weak.

For example, Dillards stock price has fallen from over $20/share in May down to only $4 now, Dillards cash on hand has also fallen sharply. That will make it hard for them to raise capital if they want to bid on Gottschalks.

We will know more as March 17th approaches.

I am wondering what will happen with the Gottschalks store. Will it become a Dillards, Macy's, Forever 21, or Bealls? That store is 86,000 sq. ft. and the city has that store planned to remain a department store. Does Dillard's still operate free-standing stores? and im not sure bealls would work since they r too similar to kohl's. Does Macy's and Dillards have enough money to buy seperate stores?

[rkb0305]

This is sad. I remember going to Gottschalk's in downtown Fresno as a kid. Maybe nothing will replace it. In this economy, I'm expecting to see vacant retail spaces of all kinds.

[FresnoFacts]

Macys announced some store closings a few days ago so I'm not sure where they stand right now. They might have interest in a few store locations but I don't know if the timing is right for them either.

It will be interesting to watch. Someone with access to enough money could pick up a future opportunity, if they can hold on for a year or so until the economy picks up.

[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.