Some good has received some bids including one from a Chinese firm that wants to keep the company operating.! Gottschalk's, which some said might be headed for liquidation,
Gottschalks Inc. said Thursday it has three bids for the department-store chain — including one from a government-controlled retail conglomerate in China that hopes to keep the business running.
Shandong Commercial Group General Corp., one of China's largestcompanies, was named along with the other two bidders in a filing Thursday with the U.S. District Bankruptcy Court in Delaware.
It is the only suitor proposing to buy Gottschalks — which filed for bankruptcy protection in mid-January — as a "going concern."
The other two bids are from companies that would dispose of the merchandise through going-out-of-business sales and close the stores.
Details of the Shandong proposal — such as how many stores it would keep open — were not disclosed Thursday.