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• Goody's, formerly known as Goody's Family Clothing, was a privately owned clothing store based in Knoxville, Tennessee, with 281 other stores throughout the United States. The store first opened in 1953 and, in its heyday, the company held over 350 stores in 20 different states, mostly in the south east. On January 14, 2009, the company announced it was closing its doors and liquidating its assets.Reuters: UPDATE 2-Goody's retailer files bankruptcy, will liquidate (January 14, 2009)

• Fast Facts

  1. Goody's: Privately owned apparel retailerReuters: UPDATE 2-Goody's retailer files bankruptcy, will liquidate (January 14, 2009)
  2. Employees: 8,200Reuters: UPDATE 2-Goody's retailer files bankruptcy, will liquidate (January 14, 2009)
  3. Number of stores: 282Reuters: UPDATE 2-Goody's retailer files bankruptcy, will liquidate (January 14, 2009)
  4. Founded: 1953, Knoxville, TennesseeReuters: UPDATE 2-Goody's retailer files bankruptcy, will liquidate (January 14, 2009)
  5. Bought by Prentice Capital Management on December 27, 2005TheStreet.com: Goody's Buyout Completed (December 27, 2005)
  6. Declared bankruptcy in June 2008Reuters: UPDATE 2-Goody's retailer files bankruptcy, will liquidate (January 14, 2009)
  7. Recovered from bankruptcy: October 2008Reuters: UPDATE 2-Goody's retailer files bankruptcy, will liquidate (January 14, 2009)
  8. Filed Chapter 11 bankruptcy: January 14, 2009.

• Goody's and Chapter 11 Bankruptcy

  Goody's Family Clothing stores was bought by Prentice Capital Management in December 2005. In February of 2008, CEO Chuck Turlinski abruptly stepped down after only one year. The company appointed an interim CEO and laid off 5% of its 500-employees.Forbes: Goody's Family CEO quits after 1 year (February 12, 2008)

  Goody's announced it had filed a bankruptcy protection under Chapter 11 on June 8, 2008. At the time they said they had commitments for $210 million in financing to help it get to reorganization. At the time, the company had 355 stores in 20 states. The courts accepted their plan.Fox Business: Goody's Family Clothing, Inc. Receives Court Approval of Its First Day Motions (June 11, 2008)

  In October 2008, Goody's emerged from bankruptcy, but after disappointing holiday sales, announced y in January 2009 that it would have to close its doors complete. At the time, the company had reduced their stores to 287 but still employed approximately 8,200 people.The Daily Mail: Goody's to close stores, manager says (January 7, 2009)

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