Gottschalk's Granted Extension

Fresno-based Gottschalk's has been granted an extension to March 30 to find a buyer (Sacramento Business Journal, 2009).

The struggling retailer is on the auction block to find a buyer. The chain says it has received multiple potential buyers (Sacramento Business Journal, 2009). The highest bidder will determine the fate of the department store. Those plans will not be revealed until the deal is done.

The big question is, who is interested? Rumors range from Wal-Mart to Dillard's. It could be an investment group, like the group that bought Mervyn's. At the end of the month, we'll find out.

Scott

Reference
Sacramento Business Journal (2009). All Gottschalks gets auction extension. Retrieved March 06, 2009, from http://sacramento.bizjournals.com/sacramento/stories/2009/03/02/daily79.html?ana=e_du_pub