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

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Pharr sells Pharr High Performance to Coats Group

Pharr, a provider of differentiated textile products and assorted...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

TOAI highlights importance of textiles in auto industry

The first edition of the conference 'Textile Opportunities in a...

Pic: Shutterstock

Textiles | On 22nd Feb 2020

Cocona's 37.5 fibres to have new biodegradable additive

All of the 37.5 staple fibres and filament yarns by Cocona, will now...

Interviews View All

Rahul Bhadani, Looksgud

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Luca Formentini,

Luca Formentini

From the very beginning, Loris Bellini's aim was to produce dyeing...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

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

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

Leave your Comments


February 2020

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


Advanced Search