Z Gallerie is a chain of home furnishing, decor, and art retail stores that was founded by siblings Mike Zeiden, Joe Zeiden, and Carole Malfatti in the year 1979 in Sherman Oaks, California.
Z Gallerie was just a small poster shop when it first opened. But as the business grew, the production company was moved to a warehouse, and soon enough, they had a number of locations across Los Angeles, California.
But things went down sooner than the company expected. They filed their first bankruptcy in 2009 but emerged from it after getting a $22 million financing package from Wells Fargo Business Credit.
In 2014, a private equity firm, Brentwood Associates, acquired Z Gallerie, but shortly in 2019, it again announced bankruptcy filing. DirectBuy acquired Z Gallerie for $20.3 million in the same year through a bankruptcy auction.
Z Gallerie has announced that it will be closing all of its brick-and-mortar stores nationwide. Z Gallerie had 21 stores in 9 states, including five in Califronia.
The company is saddled with a debt of $50 million and $100 million, caused by a number of factors and is the reason why it is closing down.