Isn’t it obvious it would turn out this way?
On March 30, Gottschalks announced they were going to liquidate, extinguishing any hope the 105-year-old chain would continue to operate. We noted a few months ago that Gottschalks existed in a weird place–kind of a dowdy combo of Kohls and Macy’s, with mostly mall-based locations–and that their [...]
Midway Mall, located in Sherman, Texas, is the only major shopping mall for a section of Texoma comprised of the cities Sherman and Denison, Texas, and Durant, Oklahoma. With a population of about 150,000, Midway Mall’s trade area is located approximately 70 miles northeast of downtown Dallas; however, the mall itself as well as the Texas side of its trade area are technically located [...]
Yikes. They only just announced a Chapter 11 filing last week, but Gottschalks is on the fast track to oblivion. Inside Bay Area notes that Gottschalks needs a buyer now “or else:”
Gottschalks Inc. intends to find a buyer by mid-March or it might proceed with a complete liquidation of its assets, according to court papers [...]
Macy’s, like many other stores in the country, didn’t make it through the holiday season with a surplus of cash; in fact, Macy’s has emerged from the holiday season – a time when many stores report up to 50 percent of annual sales – badly beaten and in need to purge some of its stores. [...]
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