Z Gallerie, Ultra File for Bankruptcy

Two more retailers filed for bankruptcy. Ultra Stores--with 181 locations--and Z Gallerie.

Z Gallerie Inc., a Gardena, Calif.-based home decor retailer with two stores in Dallas, filed for Chapter 11 bankruptcy Friday.

The privately held chain said it voluntarily filed to remove its liability from leases and to strengthen its balance sheet.

Last month, it closed a distribution center in Atlanta and 21 stores, leaving several markets. A spokesman said there are no plans to close its seven Texas stores.

Z Gallerie operates 56 stores in 18 states.

Link.

Bankruptcies and Liquidations:

• Jan. 7, Goody's liquidates, closing 287 stores
• Jan. 8, Against All Odds files for bankruptcy protection, operates 64 stores overall, plans to close West Coast stores
• Jan. 13, Shane Co. files for bankruptcy, operates 23 stores
• Jan. 14, Gottschalks files for bankruptcy, operates 58 stores, Update: March 31, Gottschalks will liquidate
• Jan. 16, Circuit City to Liquidate, closing 567 stores
• Feb. 6, Fortunoff, operates 20 stores
• Feb. 6, Bruno's, operates 66 stores
• Feb. 12, S&K Famous Brands, operates 136 stores; Update: Feb. 19, plans to close 30.
• Feb. 17, Innovation Luggage, operates 10 stores
• Feb. 23, Ritz Camera, operates about 1,000 stores; Update, April 6, closing 300 camera stores and 120 Boater's World stores
• March 6, Joe's Sports & Outdoor, operates 30 stores
• March 25, Bi-Lo, operates 215 stores
• April 13, Z Gallerie, operates 56 stores
• April 13, Ultra Stores, operates 181 stores

Potential Bankruptcies & Liquidation Impact: 1,362 confirmed closures out of about 2,713 stores

Announced Closings

• Jan. 8, New York & Co., 50 stores
• Jan. 8, Macy's, 11 stores
• Jan. 9, Supervalu, 50 stores
• Jan. 13, Cost Plus, 26 stores
• Jan. 20, Yankee Candle, 28 Illuminations stores
• Jan. 21, Filene's Basement, 11 stores
• Jan. 22, Phillips-Van Heusen, 175 stores
• Jan 22, Brown Shoe, up to 35 Famous Footwear stores
• Jan. 26, Home Depot, 48 stores
• Jan. 29, Starbucks, 200 U.S. Stores (plus 100 international)
• Jan. 29, Chico's, up to 25 stores
• Feb. 9, Talbots, 20 stores
• Feb. 24, Jimmy'Z, 11 stores
• Feb. 24, Z. Gallerie, 25 stores
• Feb. 25, Zale Corp., 115 stores
• Feb. 26, Gap, 50 net closings
• Feb. 27, Sears, 44 stores
• March 3, Virgin Megastores, 6 stores
• March 6, Ann Taylor, 37 stores in 2009, 163 total by end of 2010
• March 18, Drug Fair, 11 stores
• March 23, Pier 1, 80 stores
• April 3, Rite Aid, 117 stores

Total Closings: up to 1,175 U.S. stores

Potential Impact of All Announcements to Date: 2,537 closures out of up to 3,888 potentially affected U.S. stores