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GOTTSCHALKS ANNOUNCES FUNDING OF $115 MILLION FINANCING

 FRESNO, Calif., Sept. 10 /PRNewswire/ -- Gottschalks Inc. (NYSE: GOT) reported its $115 million financing, previously announced, was funded today by Wells Fargo Bank with the consent of Teachers Insurance and Annuity Association. This funding will provide the company with a revolving credit facility through June 30, 1994, of up to $85 million, and term loans due in 1996 of $30 million. Indebtedness under the agreements is secured by a pledge of the company's assets.
 -0- 9/10/93
 /CONTACT: Alan A. Weinstein, senior vice president and chief financial officer, or Stephen Furst, executive vice president and chief operating officer, of Gottschalks, 209-434-8000/


CO: Gottschalks Inc. ST: California IN: REA SU: FNC

LH-TM -- SF006 -- 0963 09/10/93 18:34 EDT
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Publication:PR Newswire
Date:Sep 10, 1993
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