Fresno, Calif.-based Gottschalks Inc. has entered into an agreement with a group of companies that specialize in liquidation, according to a report in The Fresno Bee.

Gottschalks is set to auction itself off on March 30, although the company states in a March 3 press release that it is in active discussions with a number of prospective buyers.

Should no buyer emerge at the auction, Gottschalks could begin liquidation soon after, according to the agreement. The agreement also states any liquidation must end by July 15.

Gottschalks, with 58 department stores primarily in the West, including its newest store in Bend, filed for Chapter 11 bankruptcy reorganization Jan. 14 in Delaware.