Is Z Gallerie closing stores in Texas?
Recently, Z Gallerie rejected 27 more leases, including seven in Texas that are closing this summer. Included are Z Gallerie in Galleria North, Watters Creek in Allen and the Shops at Clearfork in Fort Worth. The four other Texas locations closing are in Austin, Houston, Sugar Land and The Woodlands.
Who bought out Z Gallerie?
In May, DirectBuy Home Improvement, a subsidiary of Merrillville, Ind.-based e-commerce business CSC Generation, purchased Z Gallerie. The company's winning bid was valued at $20.3 million, according to filings in the U.S. Bankruptcy Court in Delaware.
Is Z Gallerie filing bankruptcy?
In its filing, Z Gallerie reported about $138 million of outstanding debt-funded obligations and cash balance of less than $2 million, according to Bloomberg. Its petition estimates as much as $500 million in assets. This would be the second bankruptcy filing for Z Gallerie, which was founded in Sherman Oaks, California, in 1979.
Why is Z Gallerie going out of business?
Founded by the Zeiden family and later sold to an investment group, Z Gallerie filed for Chapter 11 bankruptcy in March citing a liquidity crunch and failure to invest enough in e-commerce, a costly distribution operation and store expansion that wasn't meeting performance goals.Jul 1, 2019
When did Z Gallerie go out of business?
In June 1983 they combined their two stores under one roof and opened its first combination store, which included art, home furnishing and home accessories in San Francisco, California. On April 10, 2009, the 54-store chain filed for Chapter 11 bankruptcy.
Which Z Gallerie stores are closing in Texas?
Published June 28, 2019 Recently, 27 more Z Gallerie leases were rejected including six in Texas that are closing this summer. Included are Z Gallerie in Galleria North in Dallas, Watters Creek in Allen and the Shops at Clearfork in Fort Worth. Three others in Texas are in Austin, Houston, Sugar Land and The Woodlands.Jun 28, 2019
What is Z Gallerie style?
Z Gallerie is the style authority for the fashion forward home. The brand celebrates the glamorous, the modern, and the relaxed lifestyle with cutting edge designs and sophisticated, accessible furnishings.Jun 19, 2018
Where are Z Gallerie products made?
Made In The Usa | Collections | ZGallerie.
Who is the CEO of Z Gallerie?
Dolores W. Gabriel - CEO - Z Gallerie | LinkedIn.
Who bought Z Gallerie?
In May, DirectBuy Home Improvement, a subsidiary of Merrillville, Ind.-based e-commerce business CSC Generation, purchased Z Gallerie. The company's winning bid was valued at $20.3 million, according to filings in the U.S. Bankruptcy Court in Delaware.
When did Z Gallerie go bankrupt?
Z Gallerie, a California-based retailer that filed for bankruptcy once before in 2009, closed 17 stores initially, saying many of its new stores didn't perform as expected, while it went to the expense of opening a new distribution center. Recently, Z Gallerie rejected 27 more leases, including seven in Texas that are closing this summer.
Did CSC buy Bon Ton?
Last year, CSC also purchased out of bankruptcy the intellectual property of Bon-Ton and its various department store brands that operated in the Midwest.
Is Z Gallerie closing?
The Z Gallerie store at 5225 Alpha Road in Dallas, north of the Galleria, is closing this summer as part of the retailer's bankruptcy. Stores in Allen and Fort Worth are also closing.
When did Z Gallerie file for bankruptcy?
This would be the second bankruptcy filing for Z Gallerie, which was founded in Sherman Oaks, California, in 1979. It previously filed for Chapter 11 in April 2009 and emerged later that year after closing 25 stores.
Does Z Gallerie have a debtor in possession loan?
Z Gallerie said it expects to have access to a $28 million debtor-in-possession financing facility from its existing secured lender, KeyBank National Association. The DIP financing, which needs bankruptcy court approval, provides up to $8 million in incremental liquidity, and combined with its cash from operations, should provide sufficient liquidity for the company to maintain normal operations while it restructures.
When is Walker Zanger's panel?
Interiors magazine and Walker Zanger will be hosting a panel on July 25 from 5 p.m. to 9 p.m. at the brand’s showroom in Houston. Interiors editor in chief Erika Heet will moderate a panel with Letecia Ellis Haywood, Christine Ho, and Jonathan Zanger on the trending styles of 2019. The event is free to attend, and refreshments will be served.
Is Z Gallerie closing?
In a recent announcement, home decor chain Z Gallerie said that the company will be closing multiple locations of its furniture showrooms after filing for bankruptcy. Of the stores being closed, three are in the Dallas–Fort Worth area, three are in Houston, and one is in Austin. The seven outposts are set to shutter at the end of this month.
