Is Z Gallerie Going Out Of Business 2024?

About Z Gallerie 

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.

The Rise of Z Gallerie 

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.

The Fall of Z Gallerie 

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.

The Fall of Z Gallerie 

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.

Is Z Gallerie Going Out Of Business?

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.

Why Is Z Gallerie Going Out Of Business?

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.