Monday, April 13, 2009

Z Gallerie Files For Chapter 11 Bankruptcy Protection

In a follow up to the post about our local Z Gallerie closing, the company just entered into bankruptcy procedings on Friday, April 11th. This means the remaining 58 stores and the website will probably be shutting down unless a buyer for the debt can be found. This is an additional example of how lifestyle retail has been affected during the recession.

One can only wonder if we might see something similar from larger chains like Restoration Hardware, Williams Sonoma or Pottery Barn.

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