Prattville – Goody’s is closing 287 of its stores as part of bankruptcy restructuring by its parent company. The clothing stores will begin liquidating on Friday, less than four months after the retailer emerged from Chapter 11 bankruptcy protection.
Locally, there is one store in Montgomery and one located at Premiere Place in Prattville. A store in Selma was closed last year during its bankruptcy procedure.
Competitors are being asked if they would like to purchase some of the stores, but without a last minute buyer, the future of an estimated 10,000 employees looks grim.
Due to the sluggish economy, many financial experts agree that Goody’s may be only the first of many retailers to close its doors in 2009.
Article by Melissa Parker
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