Discount Clothing Retailer Goody’s Family Clothing decided last week to liquidate and close its remaining stores, after emerging from Chapter 11 only a few months earlier. Now it has filed Chapter 11 again.
From Reuters –
Goody’s LLC, a privately held family apparel retailer that emerged from bankruptcy in October, has filed for Chapter 11 protection again, and said it plans to liquidate its remaining 282 stores.
A "significant downturn in the national economy caused severe and unexpected financial pressures," and led to "unexpectedly poor" sales in the holiday season, Goody’s said in a Tuesday filing with the U.S. bankruptcy court in Wilmington, Delaware. … Several retailers have filed for bankruptcy protection in recent months, including Boscov’s Inc, Circuit City Stores Inc and KB Toys Inc.The case is In re Goody’s LLC, 09-10124, U.S. Bankruptcy Court, District of Delaware (Wilmington).