Editing Gottschalks (section)

==Bankruptcy and liquidation==
On October 24, 2008, Gottschalks was delisted from the [[New York Stock Exchange]].  NYSE officials stated that the value of the stock was too low to continue to be listed, and that its average global [[market capitalization]] had remained below $25 million for 30 straight trading days.  Company officials claimed to be negotiating a deal for a loan with a Chinese company, Everbright Development Overseas Limited.  They also stated that they would appeal the delisting decision.  On December 18, 2008, Gottschalks officials announced that Everbright had pulled out of the deal.<ref name="Chinese firm drops Gottschalks">{{cite news |url=http://www.modbee.com/1526/story/538429.html |title=Chinese firm drops Gottschalks |last=Sheehan |first=Tim |date=December 19, 2008 |work=The Modesto Bee |access-date=2009-01-15 |archive-url=https://web.archive.org/web/20090722182059/http://www.modbee.com/1526/story/538429.html |archive-date=2009-07-22 |url-status=dead}}</ref>

On January 14, 2009, Gottschalks filed for [[Chapter 11, Title 11, United States Code|Chapter 11 bankruptcy]].<ref name="Dorfman" /> In March 2009, Gottschalks announced it lined up a group of bidders that would liquidate the chain if no other bidder was found by March 30.<ref>{{cite news |url=http://www.visaliatimesdelta.com/article/20090307/NEWS01/903070333/1002 |title=Gottschalks may shut down: Potential buyers could close chain, sell off company's assets |newspaper=Visalia Times-Delta |date=March 7, 2009 |first=David |last=Castellon |archive-url=https://web.archive.org/web/20090312011428/http://visaliatimesdelta.com/article/20090307/NEWS01/903070333/1002 |archive-date=2009-03-12 |url-status=dead}}</ref> On March 31, Gottschalks announced it would liquidate its remaining stores.<ref name="bizjournals.com"/><ref name=lat-2009apr01>{{cite news |url=https://www.latimes.com/archives/la-xpm-2009-apr-01-fi-gottschalks1-story.html |title=Gottschalks is going out of business: The 105-year-old regional department store chain plans to liquidate after failing to successfully reorganize its operations under Chapter 11 bankruptcy. |newspaper=[[Los Angeles Times]] |date=April 1, 2009 |first=Andrea |last=Chang}}</ref> The chain's final stores closed July 12, 2009. Several prime locations became [[Macy's]] or Forever 21.<ref name=fb-2011jan15 />

There were plans by former CEO Joe Levy to reopen some of the stores by early 2011,<ref name=fb-2011jan15>{{cite news |url=http://www.fresnobee.com/news/local/community/clovis-news/article19508820.html |title=Gottschalks still lingers in bankruptcy |newspaper=[[Fresno Bee]] |date=January 15, 2011 |first=Tim |last=Sheehan}}</ref><ref name=dp-2010may03>{{cite news |url=http://www.denverpost.com/ci_15009987 |title=Gottschalks building for sale or lease |newspaper=[[Denver Post]] |date=May 3, 2010 |first=Jondi |last=Gumz |access-date=June 7, 2015 |archive-date=June 7, 2015 |archive-url=https://web.archive.org/web/20150607035829/http://www.denverpost.com/ci_15009987 |url-status=dead }}</ref> but those plans ultimately fell through.<ref name=fb-2014feb11>{{cite news |url=http://www.fresnobee.com/news/business/article19518576.html |title=Former Gottschalks CEO Joe Levy dies at 82 |newspaper=[[Fresno Bee]] |date=February 11, 2014 |author=<!--Staff writer(s); no by-line.-->}}</ref>