Home / Knowledge / News / Apparel/Garments / GE Lending provides $175 mn DIP credit facility to Goody's Clothing
GE Lending provides $175 mn DIP credit facility to Goody's Clothing
Oct '08
GE Commercial Finance Corporate Lending today announced it provided a $175 million plan of reorganization credit facility to Goody's Family Clothing Inc., a moderately priced family apparel retailer. The loan was used to refinance the company's debtor-in-possession (DIP) financing upon the company's emergence from a Chapter 11 bankruptcy. In June, GE Corporate Lending also provided the company with a $175 million DIP credit facility. GE Capital Markets arranged both transactions.

Founded in 1953 in Knoxville, Tennessee, Goody's is an apparel retailer providing clothing and accessories for all ages. The company operates 287 stores primarily within the Southeastern U.S.

“GE made a significant financial commitment allowing us to keep our bank group to a minimum and have access to capital when we needed it,” said David Peek, executive vice president and CFO for Goody's. “We valued having a lender with both restructuring and retail expertise who could provide financing in such uncertain times.”

“The combination of our retail and restructuring expertise allows us to quickly understand the unique needs of retailers seeking financing to reorganize and reenergize their businesses,” said Tom Quindlen, president and CEO of GE Corporate Lending. “Whether in good or challenging times, we specialize in providing customers with smarter capital to help support their business strategies.”

GE Commercial Finance

Must ReadView All

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Lynda Kelly
Suominen Corporation

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search