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GOTTSCHALKS RESPONDS TO FREDERICK AND NELSON RULING

 FRESNO, Calif., April 13 /PRNewswire/ -- Gottschalks Inc. (NYSE: GOT) reported today that it intends to vigorously appeal the oral decision rendered on April 8 by Judge Glover of the United States Bankruptcy Court for the Western District of Washington granting F&N Acquisition Corp.'s motion for summary judgment and awarding $3 million in damages, plus costs in an undetermined amount, arising out of Gottschalks' proposed acquisition of the former Frederick and Nelson store location at the Northtown Mall in Spokane, Wash. Judge Glover is expected to enter a judgment confirming his ruling after a hearing on April 22, 1993.
 "The bankruptcy judge's ruling declined to recognize that Gottschalks' offer to purchase the Northtown location was subject to a number of conditions that were never satisfied," commented Warren Williams, General Counsel of Gottschalks. "We intend to appeal the judge's ruling to the United States District Court and are confident that there are ample grounds for appeal," Williams added. Williams emphasized that Gottschalks' obligation to pay any judgment that may ultimately be awarded will not arise until a resolution of all appeals, a process expected to take a number of months.
 Gottschalks is a regional department store chain, currently operating 26 department stores and 23 specialty apparel stores in California, Tacoma, Wash. and Klamath Falls, Ore. Gottschalks offers moderate to upper moderately priced brand-name fashion merchandise.
 -0- 4/13/93
 /CONTACT: James Clifford, executive vice president and chief financial officer of Gottschalks, 209-434-8000/
 (GOT)


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

LH-BR -- SF012 -- 5463 04/13/93 21:16 EDT
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Publication:PR Newswire
Date:Apr 13, 1993
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