Gottschalks Files for Chapter Eleven
Gottschalks has filed for Chapter 11 bankruptcy protection and they’ve put the company up for sale.
Gottschalks was hoping for a $30 million investment from Everbright Overseas Securities Ltd. But the deal fell through because Gottschalks’ lender reduced the company’s available credit.
Let’s see now, we (the taxpayers) just gave $700 billion of OUR money to the banking industry, for the explicit purpose of loosening up credit and stimulating the economy. Where did I read that? I must have misunderstood.
There’s one ray of hope for the Port Angeles Gottschalks: It’s supposed to be the highest producer per square foot of all the Gottschalks locations in Washington.
Gottschalks was hoping for a $30 million investment from Everbright Overseas Securities Ltd. But the deal fell through because Gottschalks’ lender reduced the company’s available credit.
Let’s see now, we (the taxpayers) just gave $700 billion of OUR money to the banking industry, for the explicit purpose of loosening up credit and stimulating the economy. Where did I read that? I must have misunderstood.
There’s one ray of hope for the Port Angeles Gottschalks: It’s supposed to be the highest producer per square foot of all the Gottschalks locations in Washington.
Labels: Everbright Overseas Securities Ltd., Port Angeles Gottschalks Chapter Eleven
posted by Tom Harper at 2:39 PM
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