LIQUIDATION OF GAZEBO TO START WED.
Byline: Holly Haber
DALLAS — The Gazebo is shutting its doors after a long run as one of Texas’s most fashionable designer specialty stores.
As reported, the store has been suffering a cash shortage due to sluggish sales. Shelle Bagot, owner, said potential investors had come forward in the Last week, but she wasn’t comfortable taking on a new, unfamiliar business partner in such a short period of time.
A liquidation sale managed by Buxbaum Ginsberg & Associates is scheduled to begin Wednesday and continue through the end of May. Gazebo also is receiving spring trunk show orders and selling them at full price.
“I feel very sad,” Bagot said. “After 17 years, it’s a huge loss personally, and it’s very emotional, because we’ve all worked together for a long, long time, and we genuinely care about each other.”
Bagot said she’s not sure of her future plans.
“My focus is the next 90 days [and] to make sure this liquidation goes profitably to generate the cash we need to satisfy our creditors,” she said. “At the end we’ll make a decision about a bankruptcy and, hopefully, we can avoid that.”
A respected merchant, Bagot was the first to introduce a number of designers to Texas, including Isaac Mizrahi, Richard Tyler, Randy Kemper, Michael Kors and Pamela Dennis. She created Gazebo as a salon-like environment distinguished by attentive, personal service and forward fashions. But Gazebo succumbed to a sales slowdown that Bagot attributed to women’s declining interest in fashion. Her own protracted, difficult and expensive divorce over the last two years also contributed to the decline of the business.