Court approves Goody's Clothing reorganization plan

08 Oct '08

1 min read

Goody's Family Clothing Inc a moderately priced family apparel retailer operating in small to midsize markets primarily throughout the Southeast, announced that the Company's Second Amended Plan of Reorganization (the "Plan") has been confirmed by the United States Bankruptcy Court for the District of Delaware.

The confirmed Plan, which will facilitate the Company's formal emergence from Chapter 11, is expected to become effective in approximately 10 days.

Paul White, Goody's Chief Executive Officer, stated, "Goody's has a solid 55-year heritage and our Company has made great progress over the past few months.

In particular, we have created a stronger and more nimble organization that is more effectively positioned to serve our very loyal customers.

Decision will allow us to move our business forward with renewed vigour and we look forward to the opportunities that lie ahead."

Goody's commenced its Chapter 11 case on June 9, 2008. The Company has continued to operate under the supervision of the Bankruptcy Court throughout the Chapter 11 process.

Goody's Family Clothing Inc

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