![]() ![]() The company through a spokesperson declined to comment beyond its press release. Z Gallerie's petition estimates as much as $500 million in assets. Keybank has agreed to provide debtor-in-possession financing of up to $28 million. It began offering home furnishings and decor in 1983.Īs of the petition date, Z Gallerie reported approximately $138 million of outstanding debt-funded obligations and cash balance of less than $2 million. The trio framed art in their parents' garage at night, and that affection for art became the thrust of the company's aesthetic. Three siblings - Joe, Carole and Mike Zeiden - founded Z Gallerie in Sherman Oaks, California in 1979, originally operating it as a poster shop, according to court papers.
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