We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Goody's To Liquidate Months After Ch. 11 Emergence

Law360 (January 6, 2009, 12:00 AM EST) -- Less than three months after emerging from Chapter 11, clothing retailer Goody's Family Clothing Inc. has become the first major retail casualty of 2009 as it plans to liquidate its remaining assets.

The company has exhausted all ideas to find ways to fund its financial needs, CEO Paul White said in a memo leaked Tuesday to Tennessee news Web site VolunteerTV.com.

White blamed overwhelming financial strain and a difficult economic environment for retailers for a failure to obtain additional financing. The decision to liquidate was made...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.