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Wednesday, January 14, 2009

More Retailer Bankruptcies

by Calculated Risk on 1/14/2009 01:46:00 PM

From Bloomberg: Gottschalks, Goody’s Seek Bankruptcy as Sales Slump

Gottschalks Inc., the owner of department stores in six western states, and Goody’s LLC, a clothing chain serving towns in the southern and central U.S., sought bankruptcy protection after sales slumped.

Gottschalks, founded in 1904 in Fresno, California, is looking for a buyer. Goody’s, based in Knoxville, Tennessee, plans to liquidate ...
Goody's was founded in 1953. These are long term retailers.

Away from retail, Nortel filed bankruptcy today too.