USA: Gottschalks To Shut Six Stores, Take $3m Charge
Troubled department store group Gottschalks Inc on Monday announced it will take a $3 million fourth quarter charge when it takes the axe to six loss-making stores as part of a restructuring plan. The California-based retailer said the six under-performing stores in the Pacific Northwest will shut within the next 90 days as it implements a refinancing plan aimed at improving liquidity and reducing its debts.
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