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Gottschalks keeps jet for now

One of Gottschalks' creditors has backed off its efforts to seize the corporate jet that was the collateral for a loan. General Electric Capital Corp. filed papers Tuesday with the U.S. Bankruptcy Court in Delaware, withdrawing its earlier motion asking a judge to let it repossess the $2 million Cessna 525 Citation. In court documents, attorneys for GE Capital said they originally included "misstatements of facts ... made unintentionally" in their first motion. Gottschalks, a Fresno-based retail chain, filed for Chapter 11 bankruptcy protection in January. The original motion indicated that Gottschalks was two months behind in its $40,000-per-month payments on a loan for which the jet was offered as collateral.

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