Gottschalks Going on $280 Million Bankruptcy Liquidation Sale

Department store chain Gottschalks Inc. will conduct a court-ordered bankruptcy liquidation sale beginning on Thursday, the company announced. The going out of business sale will include all 58 Gottschalks' locations.

The inventory is valued at approximately $280 million will be completely liquidated “at significant discounts,” said.

The 105 years old retailer’s merchandise includes fine jewelry and accessories as well as fashion apparel, shoes and cosmetics.

Gottschalks filed to reorganize under Chapter 11 on January 14 in the United States Bankruptcy Court for the District of Delaware. It became a publicly traded company trading on the New York Stock Exchange in 1986, with Joe Levy, the grand nephew of founder Emil Gottschalk, serving as Chairman.

Gottschalks currently operates 55 department stores and three specialty apparel stores in six western U.S. states - California, Washington, Alaska, Oregon, Nevada and Idaho.