New Suitor Sought For Gottschalks Space

By B.J. Hansen Published Mar 31, 2009 05:05 pm Updated Mar 31, 2009 05:19 pm

Sonora, CA — Now that a liquidation consortium has won a bankruptcy auction to take over the 58 Gottschalks stores, many are wondering what will become of the space that will soon go unoccupied in the Junction Shopping Center.

"I’m really upset because I was hoping they (Gottschalks) would have found a buyer that would keep it open," says Margaret Davis, Junction Shopping Center Manager. "We’ve got to go on, and hopefully we can find someone else."

The Gottschalks space is owned by the Junction Shopping Center, specifically Tom Ryan, Sr. of Sonora Five Associates.

Davis says the liquidation company has the option of selling the current Gottschalks lease to another company. If not, it will come back to the Junction, who would have the task of looking for a new suitor.

The Sonora Gottschalks store has around 75 employees. The liquidation will be completed by July.

Written by bjhansen@mlode.com