Gottschalks to launch going-out-of-business sales Thursday

By Caroline Salls

Pittsburgh, April 1 - Gottschalks Inc. will begin its court-ordered bankruptcy liquidation sale on Thursday at all 58 of its stores, according to a company news release.

Specifically, the going-out-of business sales will be held at the company's 38 stores in California, seven stores in Washington, five stores in Alaska, five stores in Oregon, two stores in Idaho and one store in Nevada.

Inventory valued at roughly $280 million will be completely liquidated.

As previously reported, Gottschalks' sale is being managed by a joint venture consisting of Tiger Capital Group LLC, Great American Group LLC, SB Capital Group LLC and Hudson Capital Partners LLC.

In addition to store merchandise, the liquidation sale will also include store furnishings, trade fixtures and equipment throughout the chain.

Gottschalks, a Fresno, Calif.-based regional department store chain, filed for bankruptcy on Jan. 13 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 09-10157.

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