Forever 21 wants to take over Gottschalks

Posted: Sunday, May 24, 2009

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.

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