Goody’s Family Clothing Inc. said Monday it filed for Chapter 11 bankruptcy protection.
The Knoxville, Tenn.-based retailer secured $210 million in debtor-in-possession financing, which will provide liquidity as the firm reorganizes. “We plan to close 69 underperforming stores, consolidate our distribution centers by closing one facility in Russellville, Ark., significantly reduce expenses, and create a more appropriate capital structure,” said Paul White, chief executive officer. The chain currently operates 355 stores across 20 states.
For complete coverage, see Tuesday’s issue of WWD.
Peter Kim's Los Angeles-based premium denim line has always had its finger on the pulse of youth. This season, novelty is back in a way reminiscent of early Aughts, with studs, lace-ups, racing waxed denim and more. For more highlights if some of the key brands at the Vegas trade shows, go to WWD.com. #wwdfashion (📷: Patrick Gray; Styled by @thealexbadia; Story by @karihamanaka and @marcy_wwd)
"I was driving back on Saturday afternoon from the beach, and I just saw this sign saying 'Skydiving for $95.' And I was like, I can't not sky dive for $95," says Tom Bateman about a moment in Hawaii while shooting "Snatched." #wwdeye (📷: @vsteves; Interview by @ktauer; Styled by @thealexbadia)