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Zgallery sale1/30/2024 We offer a wide selection of furnishings, art, lighting, home textiles, as well as, culinary and decorative accessories. The retailer previously filed for Chapter 11 in April 2009 and emerged later that year after closing 25 stores. Z Gallerie is a unique lifestyle retailer specializing in furnishings and accessories for the home and office. This would be the second bankruptcy filing for Z Gallerie. While Z Gallerie reported approximately $138 million of outstanding debt-funded obligations, it had a cash balance of less than $2 million. The company blames the filing on self-imposed problems, including a failure to invest enough in e-Commerce, the addition of a costly distribution center and an expansion that didn’t meet performance targets, according to Bloomberg. ![]() ![]() Combined with its cash from operations, the financing is expected to provide enough liquidity for the company to maintain normal operations while it restructures.Īs of now, all Z Gallerie stores that aren’t being shuttered will continue to operate on normal schedules, and the e-Commerce site will remain open for business. Z Gallerie, located at Woodfield Mall: Z Gallerie is a unique lifestyle retailer specializing in furnishings and accessories for the home and office. How do sales work at Z Gallerie Z Gallerie maintains a Sale tab for special deals that vary based on the product category. ![]() The financing, which needs court approval, provides up to $8 million in incremental liquidity. Z Gallerie has access to $28 million in debtor-in-possession (DIP) financing from its secured lender, KeyBank National Association.
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