Gottschalks is a regional department store chain headquartered in
Fresno, California. German immigrant Emil Gottschalk, who described
the business as "the store that cares", founded it in
1904. This remains the company motto.
On January 14, 2009, Gottschalks,
Inc. filed a voluntary petition for reorganization under
Chapter 11 of the United States
Bankruptcy Code.As seen on their website
1/18/09, "While Gottschalks has a 104-year heritage
of serving customers in western markets, we have recently faced
considerable challenges to our business as a result of the tightened
credit markets and the challenging economic environment. Chapter
11 reorganization provides the legal framework that allows us to
keep the business operating normally while we execute one or more
options to create value for stakeholders including pursuing a sale
of our business or another transaction with a third-party investor.
Please be assured that Gottschalks is not going out of business.
We will continue business as usual and our stores will continue
operating as normal at this time. The filing gives our company the
time and resources necessary to address our financial challenges
while continuing to provide our customers with the quality brands,
great value and exceptional service they expect from Gottschalks."
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