Thread: Gottschalks Dept Store BK = Loss of 5,000 CA Jobs

Written by Gabriel Dillard
Friday, 06 March 2009

[Ed:] "Limited Liability Corporations"? The lunatics are ruining and reporting on the asylum.

Gottschalks has met bankruptcy court requirements by submitting a plan that could
result in the liquidation of its 61 stores and the loss of more than 5,000 full- and
part-time employees.

The Fresno-based retailer has chosen a joint venture of limited liability [sic] corporations
specializing in liquidation sales, including SB Capital Group, Great American Group,
Tiger Capital Group and Hudson Capital Partners, as a "stalking horse" bidder. Unless
a better bid comes along by March 30, the group would be given the right to liquidate
the company's assets. Gottschalks would have to pay the group a nearly $1-million
breakup fee, according to court documents, if it found a better deal that allows it to
go forward as a going concern...

http://www.thebusinessjournal.com/in...k=view&id=4752