FRESNO, Calif.–Bankrupt department store chain Gottschalks is reportedly in talks with three potential bidders that could help the retailer avoid liquidation, according to a Bloomberg report.
Golden Gate Capital Corp., GK Development Inc. and El Corte Ingles, Spain’s biggest merchant, reportedly signed confidentiality agreements allowing them to view Gottschalks’ financial records, said Bloomberg.
A group of liquidators composed of SB Capital Group LLC; Tiger Capital Group LLC; Great American Group LLC and Hudson Capital Partners LLC was identified as the lead, stalking horse, bidder last week. The group would conduct a going-out-of-business sale at the department store chain. An auction of the company is scheduled for March 30.
Gottschalks filed for bankruptcy in January.