Z Gallerie in Chapter 11
April 13, 2009,
Gardena, Calif. – Home furnishings retailer Z Gallerie filed for Chapter 11 bankruptcy protection at the U.S Bankruptcy Court for the Central District of California in Los Angeles.
“In light of current conditions, our company has had to make some difficult decisions,” said Mike Zeiden, cfo and co-founder.
The 30-year-old company plans to pay vendors who do business with it going forward on an administrative priority basis for all goods and services received on or after the April 10 filing date. Z Gallerie is being advised by turnaround managers Broadway Advisors LLC and bankruptcy counsel Pachulski Stang Ziehl & Jones.
The privately owned company employs about 900 people.
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