Gottschalks Talks with Potential Buyers

March 20, 2009 7:40:30 AM PDT
Gottschalks is reportedly in talks with three potential buyers to continue to operate the retail department store chain.Bloomberg.com reports the Fresno-based company is negotiating with El Corte Ingles, a Spanish retail giant, Golden Gate Capital Corporation: A private-equity firm and GK Development Incorporated: an Illinois development company.

Gottschalks operates 58 department stores in six western states. It filed for bankruptcy in mid-January and if a buyer can't be found, the retailer is due to be sold at auction on March 30.

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