Sacramento Landlords Picking Out Gottschalk's Casket

In another sign of its impending doom, landlords and commercial brokers in the Sacramento region are pondering the future of Gottschalk's sites. According to Kelly Johnson (2009) "Some landlords are already shopping their space to other retailers" (¶ 7). We'll know in a month if we hail them as smart or pity them as dumb. Gottschalk's has until mid-March to find a buyer or financing, or it's kaput for them.

Speaking of pity... the owner of Country Fair Mall in Woodland, Raymond Arjmand, "is convinced Gottschalks isn’t going anywhere" (Johnson, 2009, ¶7). I've got a pretty orange bridge for sale, too.

Last week, Macy's shed 1,400 jobs, which shows its not in any position to expand. What buyer would have the capital, credit, or gumption to buy Gottschalk's in time?

In the Sacramento metro, Gottschalk's has locations in Sacramento (Country Club Plaza Mall), Davis (University Mall), Woodland (Country Fair Mall), Elk Grove, and Auburn.

I'll miss the ole' store.

Scott

Reference
Johnson, K. (2009). Brokers consider future of local Gottschalks sites. Sacramento Business Journal. Retrieved February 04, 2009 from: http://sacramento.bizjournals.com/sacramento/stories/2009/02/02/story6.html?b=1233550800^1770511&ana=e_vert