Gottschalks, the West Coast department-store chain that went bankrupt and liquidated last year, is getting reborn. Joe Levy, a former CEO, is launching Gottschalk by Joe Levy, and plans to go into at least three of the 58 locations that were liquidated last year.
So far, the new concept is close to inking on deal in Clovis, CA, and it’s also considering former Gottschalks locations in the towns of Auburn and Oakhurst. If a deal is reached, the Clovis store will go into Land Value Management’s Sierra Vista Mall.
Levy says he would like to open 10 to 15 stores in former well-performing Gottschalks locations. Financing details for the new venture are sketchy in media reports.
Some observers think that Levy is a “madman” for launching such a concept. For our part, we don’t think that Gottschalk by Joe Levy is a name that will drive throngs of shoppers into stores. (The “s” was left out of the name, by the way, for legal reasons.)
Will this concept actually work? Or maybe more importantly, are landlords desperate enough to fill vacancies to try something like this out?