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California  + Los Angeles  + Retail  | 

Z Gallerie Files for Chapter 11, Seeks Approval to Close 17 Stores

Los Angeles-based Z Gallerie, LLC filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code. The home décor retailer also filed a motion seeking approval to proceed with closing 17 stores.

Z Gallerie expects to have access to a $28 million debtor-in-possession (DIP) financing facility from its existing secured lender, KeyBank National Association. The DIP financing, which provides up to $8 million in incremental liquidity, combined with the company’s cash from operations, is expected to provide sufficient liquidity during the Chapter 11 process to maintain normal operations

Z Gallerie’s Mark Weinsten says, “Z Gallerie has made significant progress on improving all facets of our operations, enhancing our customer service and scaling our E-commerce presence. Upon emergence, we will have a stronger balance sheet and the financial flexibility needed to compete in today’s dynamic retail environment now and for the long term.”

The company expects the Chapter 11 process to span roughly four months.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Read more at Business WireConnect With Z Gallerie’s Weinsten

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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