Goody's Family Clothing Inc. was an American chain of department stores, owned and operated by Stage Stores and headquartered in Houston, TX. It specialized in retailing on-trend apparel, accessories, cosmetics, footwear, and housewares.
Brands exclusively found at Goody's include Valerie Stevens; Signature Studio; Sun River; Rustic Blue; Rebecca Malone; and Wishful Park.
History
Goody's was founded in 1953 in Athens, Tennessee, by M. D. Goodfriend as an offshoot of a family retail business, The M. Goodfriend Store, that the founder's father, Mike Goodfriend, had started in Athens in 1913. The new store, Athens Outlet Store, focused on the sale of closeout, irregular, and previous-year merchandise. The business grew, operating 20 stores by 1970.[1]
In 1978, the name was changed to "Goody's". "Goody" was the college nickname of M. D. Goodfriend's son Bob, who had joined the family business in 1972. In 1979, Bob Goodfriend became president of the business and the company changed its merchandise focus from the outlet model to offering current, first-quality, brand-name merchandise.[1] With this new strategic direction, the chain expanded rapidly. A private-label clothing line was launched in 1993. By 1998, the chain recorded $1 billion in annual sales, and in 2000 it opened its 300th store. By 2004, there were more than 350 stores recording annual sales of $1.3 billion.[1]
In 2006 Goody's became a privately held company again when it was acquired by GMM Capital and Prentice Capital Management in January 2006. Sales in 2006 totaled $1.6 billion.[2] In 2008 Goody's filed for Chapter 11 bankruptcy and announced it was to close 69 stores.[2][3] While Goody's successfully left Chapter 11 bankruptcy, it was announced four months later in early January 2009 that Goody's had filed for Chapter 7 bankruptcy and planned to liquidate all of their stores.[4] The chain was then acquired by Stage Stores Inc in July 2009, from the bankruptcy auction.[5]
In September 2019 it was announced that Goody's, along with all other stores operated by Stage Stores Inc, would be converted to Gordmans stores by the end of 2020.[6]
On May 10, 2020, Stage announced it had filed for Chapter 11 Bankruptcy, and that it would liquidate all locations, Goody's and Gordmans included, unless a buyer could be found for the chain.[7] No buyer had been found, and going out of business sales had begun at all locations.[8]
In 2021 BrandX bought the Goody's brand for an undisclosed amount, with intentions of re-establishing it in 2022. [9]
^ abCarly Harrington, "Goody's to close 69 of its stores", Knoxvillebiz.com, June 10, 2008
^WTVY (June 10, 2008). "Goody's Family Clothing Files for Chapter 11". Retrieved 2018-10-15.
^"Goody's retailer files bankruptcy, will liquidate". Reuters. January 14, 2009. Retrieved February 12, 2020.
^"Stage Stores buys Goody's name". Glasgow Daily Times. July 29, 2009. Retrieved February 12, 2020.
^"Stage Stores Announces Total Company Conversion to Off-Price". Business Wire. September 17, 2019. Retrieved February 12, 2020.
^Bhattarai, Abha (May 11, 2020). "Stage Stores files for bankruptcy, says it will liquidate more than 700 stores if it can't find a buyer". Philadelphia Inquirer. Retrieved 2020-05-12.
^TERRI HARBER, The Daily News (August 6, 2020). "Stage parent company scraps plan for conversion into Gordmans". Mohave Daily News. Retrieved 2020-08-14.
goody, store, goody, family, clothing, american, chain, department, stores, owned, operated, stage, stores, headquartered, houston, specialized, retailing, trend, apparel, accessories, cosmetics, footwear, housewares, goody, family, clothing, trade, namegoody,. Goody s Family Clothing Inc was an American chain of department stores owned and operated by Stage Stores and headquartered in Houston TX It specialized in retailing on trend apparel accessories cosmetics footwear and housewares Goody s Family Clothing Inc Trade nameGoody sTypeDepartment storeIndustryClothingFounded1953FounderM D GoodfriendDefunct2020FateBankruptcyHeadquartersHouston TexasArea servedSouthern United StatesMidwestern United StatesProductsApparel accessories cosmetics footwear and housewaresParentBrandX comWebsitehttp goodysdeptstores comA Goody s location in Georgia It was a successor to a chain of clothing retailers that was based in Knoxville Tennessee At one time Goody s operated close to 500 stores in the U S South and Midwest including Alabama Arkansas Florida Georgia Illinois Indiana Iowa Kansas Kentucky Louisiana Maryland Mississippi Missouri North Carolina Oklahoma Ohio South Carolina Tennessee Texas Virginia and West Virginia In late 2010 Goody s opened 17 new stores in the Southeast citation needed Brands exclusively found at Goody s include Valerie Stevens Signature Studio Sun River Rustic Blue Rebecca Malone and Wishful Park History EditGoody s was founded in 1953 in Athens Tennessee by M D Goodfriend as an offshoot of a family retail business The M Goodfriend Store that the founder s father Mike Goodfriend had started in Athens in 1913 The new store Athens Outlet Store focused on the sale of closeout irregular and previous year merchandise The business grew operating 20 stores by 1970 1 In 1978 the name was changed to Goody s Goody was the college nickname of M D Goodfriend s son Bob who had joined the family business in 1972 In 1979 Bob Goodfriend became president of the business and the company changed its merchandise focus from the outlet model to offering current first quality brand name merchandise 1 With this new strategic direction the chain expanded rapidly A private label clothing line was launched in 1993 By 1998 the chain recorded 1 billion in annual sales and in 2000 it opened its 300th store By 2004 there were more than 350 stores recording annual sales of 1 3 billion 1 In 2006 Goody s became a privately held company again when it was acquired by GMM Capital and Prentice Capital Management in January 2006 Sales in 2006 totaled 1 6 billion 2 In 2008 Goody s filed for Chapter 11 bankruptcy and announced it was to close 69 stores 2 3 While Goody s successfully left Chapter 11 bankruptcy it was announced four months later in early January 2009 that Goody s had filed for Chapter 7 bankruptcy and planned to liquidate all of their stores 4 The chain was then acquired by Stage Stores Inc in July 2009 from the bankruptcy auction 5 In September 2019 it was announced that Goody s along with all other stores operated by Stage Stores Inc would be converted to Gordmans stores by the end of 2020 6 On May 10 2020 Stage announced it had filed for Chapter 11 Bankruptcy and that it would liquidate all locations Goody s and Gordmans included unless a buyer could be found for the chain 7 No buyer had been found and going out of business sales had begun at all locations 8 In 2021 BrandX bought the Goody s brand for an undisclosed amount with intentions of re establishing it in 2022 9 References Edit a b c Carly Harrington Goody s legacy in Knoxville one of growth charity Archived 2009 01 18 at the Wayback Machine Knoxville News Sentinel January 18 2009 page C1 a b Carly Harrington Goody s to close 69 of its stores Knoxvillebiz com June 10 2008 WTVY June 10 2008 Goody s Family Clothing Files for Chapter 11 Retrieved 2018 10 15 Goody s retailer files bankruptcy will liquidate Reuters January 14 2009 Retrieved February 12 2020 Stage Stores buys Goody s name Glasgow Daily Times July 29 2009 Retrieved February 12 2020 Stage Stores Announces Total Company Conversion to Off Price Business Wire September 17 2019 Retrieved February 12 2020 Bhattarai Abha May 11 2020 Stage Stores files for bankruptcy says it will liquidate more than 700 stores if it can t find a buyer Philadelphia Inquirer Retrieved 2020 05 12 TERRI HARBER The Daily News August 6 2020 Stage parent company scraps plan for conversion into Gordmans Mohave Daily News Retrieved 2020 08 14 Goodys Website External links EditOfficial website Archive Retrieved from https en wikipedia org w index php title Goody 27s store amp oldid 1115358151, wikipedia, wiki, book, books, library,
