Gottschalks Closing Six Northwest Locations

SEATTLE-The publicly traded regional retailer Gottschalks says it will close six Northwest locations over the next 90 days as part of a larger initiative to get its finances in order.

The Fresno, Calif.-based 82-store chain says it will close four stores in the Seattle-Metro area, one in Wenatchee, Wash. and one in Corvallis, Ore. The likely Seattle-area closures will be West Seattle, Issaquah, Burien and Lake Forest Park. A company representative was not immediately available for comment on Tuesday.

Gottschalks describes its cost-cutting effort as “a 5-Point Strategic and Financial Positioning Plan designed to strengthen the Company’s financial structure and position the West Coast department store retailer for stable long-term growth.” The company says the plan will improve liquidity and reduce the Company’s debt by approximately $37million.