"CHICAGO -- Discount clothing chain Goody's Family Clothing will begin liquidating its stores on Friday as the retailer becomes one of the year's first victims of the worsening economy.
The move, which comes less than four months after the privately held retailer emerged from Chapter 11 bankruptcy protection, affects the Knoxville, Tenn.-based chain's 287 stores scattered throughout 20 Midwestern and Southern states, said Cathy Hershcopf, a partner at Cooley Godward Kronish LLP.
The firm is working with Goody's vendors and its parent, PGDYS Lending LLC. "
The move, which comes less than four months after the privately held retailer emerged from Chapter 11 bankruptcy protection, affects the Knoxville, Tenn.-based chain's 287 stores scattered throughout 20 Midwestern and Southern states, said Cathy Hershcopf, a partner at Cooley Godward Kronish LLP.
The firm is working with Goody's vendors and its parent, PGDYS Lending LLC. "
Although this means better deals for us as consumers, this notice is very disheartening to me. My major concerns are what will happen to the thousands of employees who will be without work and what other retailers will succumb to the worsening economy?
2 comments:
I am so sad. This is the only place I have been able to find Lee jeans recently. I hope the economy picks up soon. We need jobs!
I had no idea they were going out. :(
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