FRESNO, Calif. - Women's clothing retailer Forever 21 has submitted a bid to take over 16 shuttered Gottschalks Inc. stores.
Fresno-based Gottschalks department store chain is currently undergoing bankruptcy liquidation at its 58 stores, including its location in Juneau at the Mendenhall Mall. It supports Forever 21's $17.7 million bid to buy three stores and acquire leases for 13 stores in medium-sized cities from California to Alaska.
The bid is part of the Los Angeles-based company's plan to continue the store expansion it began since buying 15 bankrupt Mervyns stores in January.
If approved by a bankruptcy judge, the move would buoy cities that have been worried about the loss in sales tax revenue from Gottschalks' demise.