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

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater
Somaiya Kala Vidya

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

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

July 2017

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

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

Yes No

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

Yes No

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


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



X