Goody’s Liquidates
It seems that the first victim of the 2009 retail crisis is the moderately priced family apparel chain, Goody’s Family Clothing.
The Knoxville, Tenn.,-based chain emerged from bankruptcy Oct. 20, but in early December was said to have exhausted its cash, credit and restructuring resources. With no money left, the company has decided to liquidate.
Fashion trade newspaper Women’s Wear Daily reports Goody’s started the process of auctioning off their inventory Monday afternoon.
According to a Tennessee based newspaper, Goody’s stopped selling gift cards last month and ended the use of a layaway system.
The company opened its doors in 1953 as a family owned and operated store. In 2006, Goody’s Family Clothing was bought by a private company and has nearly 10,000 employees.
R.I.P. Goody’s.
-Crystal VanZandt (fashion intern)
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