Anyone have Gottschalks, Inc. Stock - GOTT.PK

[Tidybuoy]

I'm just curious if anyone on this board follows Gottschalks, Inc.? This is a West Coast Retail Department Store - which I worked for as Director of Finance for 21 years. I've been gone for a few years.

Unfortunately, Jim Famalette Chariman and CEO has ruined the once great company. The stock was kicked of the NYSE about two months ago as it has been on a downward spiral for quite some time. The company's performance has been dismal far longer than the current economic events.

Anyway, just wondering.

[cl8ton]

My condolences…I don’t own any, but have followed their downward spiral in the news for a while.
Yes they were once great!

[daepp]

There's one right around the corner from me in Riverside. Have only bought something there once but it seemed pretty cool.

[craigster59]

I've been to the one in Bakersfield. I think it's great that they have a "senior citizen Tuesday" and give them some pretty good deals.

[Soterik]

My company does a lot of business with them (PVH).... so far so good.... My brand is having a good season. Overall men's furnishings is up pretty strongly (designer), and his cold weather business is pretty strong too (Tim Davis is still the buyer).

Eric

[Tidybuoy]

Van Heusen has been a Got main brand for years. I worked in the Men's division for about 3 years - under Ron Gernandt.

Might start consider getting LC's before you get burned. The current financials are pathetic and I think they will be out of money really soon. The rumored $30 mil investment will not be enough. Guaranteed, they are holding checks.

http://biz.yahoo.com/prnews/081204/aqth524a.html?.v=4

[Soterik]

Interesting,

I'm doing the Kenneth Cole Reaction brand in 28 doors, obviously we have a lot of product in the the Mens area:

Geoffrey Beene
IZOD
Van Huesen
Reaction
Chaps
Superba neckwear in all the above brands

The one thing about us is that we do hold up our end on margin, not sure how the other brands are going to be this year....

I've heard the name Ron Gernandt, though I never met him from my memory. I've only started doing business with them with Reaction in the last 3 years. About 10 years ago I was doing the YSL business with them though.

Actually another store that was quite nice was the Harris Co., they also had great product, but it wasn't run too well.

Eric

[Tobra]

one across the street from my office, used to be JC Penneys, they seem to do a fair amount of business

[trader220]

.PK is where stocks go to die.

[Tidybuoy]

Originally Posted by trader220

.PK is where stocks go to die.

Don't I know it. I sold at $19 about 15 years ago. I only have 251 shares today that are worth about $125 (total!)

[trader220]

Good sales. Once the street sniffs out what’s happening they just pile on and drive the thing into the ground. It sounds unfair but all it does is accelerate the inevitable.

[jyl]

CHICAGO, Jan 14 (Reuters) - Regional department store chain Gottschalks Inc (GOTT.PK) said on Wednesday that it had filed to reorganize under bankruptcy protection, becoming the latest retailer to seek to restructure amid the recession.

The Fresno, California-based company said it had negotiated $125 million in debtor-in-possession financing from a group of lenders led by GE Capital, a unit of General Electric Co (GE.N).

Gottschalks plans to pursue options that include the possible sale of the company or another transaction, it said.

[widebody911]

My g/f is in management at Kaiser, and from what she says they're losing Gottschalks as a benefits customer, which probably means they're going under.