Judge Approves Goody's Disclosure Statement

Law360, New York (August 26, 2008, 12:00 AM EDT) -- A federal bankruptcy judge has approved an amended disclosure statement filed by Goody's Family Clothing Inc. in its Chapter 11 bankruptcy proceedings, moving the apparel retail chain one step closer to reorganization.

In an order signed Monday in the U.S. Bankruptcy Court for the District of Delaware, Judge Christopher S. Sontchi approved an amended disclosure statement filed Aug. 24 by the beleaguered clothing retailer.

The company says its joint plan of reorganization, which was included in the statement, will allow it to continue operating and settle...
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