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Dismal Sales Drive Goody's To Liquidation

Law360 (January 14, 2009, 12:00 AM EST) -- Citing disastrous holiday sales and unexpected difficulties in its re-emergence from a previous restructuring, apparel retailer Goody's LLC officially filed for a Chapter 11 liquidation Tuesday, just three months after emerging from bankruptcy.

The filing in the U.S. Bankruptcy Court for the District of Delaware came a week after a Tennessee news Web site, VolunteerTV.com, reported on the impending shuttering of the clothing chain.

This is the second bankruptcy filing for Goody's in the last six months. The company originally filed for protection on June 9,...
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