Home / Knowledge / News / Apparel/Garments / Goody's Family Clothing files plan of reorganization
Goody's Family Clothing files plan of reorganization
26
Jul '08
Goody's Family Clothing Inc, a retailer of moderately priced family apparel operating in small to midsize markets primarily throughout the Southeast, announced that on July 24, 2008, it and its subsidiaries (collectively, the "Debtors") filed a Disclosure Statement (the "Disclosure Statement") with respect to the Joint Plan of Reorganization Proposed by Goody's Family Clothing Inc. (Goody's) and Subsidiary Debtors, Debtors in Possession, and the Official Committee of Unsecured Creditors (the "Plan"), with the United States Bankruptcy Court for the District of Delaware (the "Court").

If confirmed, the Plan will implement a compromise and settlement among the Debtors, their pre-petition senior lender, their pre-petition junior lenders including PGDYS Lending LLC and GMM Capital LLC, and the Official Committee of Unsecured Creditors (the "Committee").

The Debtors will be reorganized pursuant to the Plan, if confirmed, and will continue in operation, achieving the objectives of Chapter 11 for the benefit of their creditors, customers, suppliers, employees and communities. The Committee is a proponent of the Plan.

Commenting on the announcement, Paul White, Goody's Chief Executive Officer, said, "We appreciate the support of our vendor community, customers and employees during this Chapter 11 process.

We are encouraged by the Committee's support of the Plan and we look forward to the Court's consideration of the Disclosure Statement, scheduled for August 25, 2008."

Mr. White added, "If the Disclosure Statement is approved by the Court, Goody's intends to solicit votes from its creditors concerning the Plan and, subject to the voting results, to thereafter proceed to seek Court confirmation of the Plan."

Goody's Family Clothing Inc


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Urmil Arya

Sushila International, a well established textile organisation established ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search