The well known regional department chain store, Gottschalks, is throwing in the towel after unsuccessfully making efforts to reorganize under a Chapter 11 filing.
Based in Fresno, California, Gottschalks has been in the department store market for over 100 years and has most of its 55 locations in California. According to a Los Angeles Times article, the company was unable to reach agreements with its creditors, lenders and bidders.
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