polo ralph lauren classic Goody’s to close Danville store
Just two months ago, a Goody’s corporate spokeswoman vehemently denied the family clothing store at the Village Mall was closing.
On Monday, the retailer announced it had filed Chapter 11 bankruptcy and planned to close 69 underperforming stores and a distribution center in Russellville, Ark.
Goody’s said it decided to file for Chapter 11 after reviewing alternatives to address “pressures from tightening credit markets, strain on merchandise flow and a sizable but isolated number of underperforming stores in the chain.”
By Monday evening, the Associated Press released a list of the initial 69 store closings, and Danville was on that list.
There is no indication how soon the store will close.
Phones at Goody’s corporate headquarters in Knoxville, Tenn., were not accepting voice mail messages Monday afternoon.
City officials and local mall management said they, too, were unsuccessful in reaching anyone at corporate Goody’s.
“We will do, in conjunction with the city, all that is possible to delay, stop and/or mitigate a situation in which we are a potential victim but not the cause,” said Vicki Haugen,
president and CEO of Vermilion Advantage.
“If we cannot change our status of possibly being one of the 69 stores to be closed, then we will collectively do all in our power we can to present this as a further opportunity to others who have expressed interest in our market,” she said.
Brett Howard, the California owner of the Village Mall, said he also had found out on Monday about Goody’s decision to file for bankruptcy protection.
“We found out today actually a few hours ago,” he said. “We got a letter from them.”
Howard said he was surprised by the retailers’ action.
“It’s all brand new to us,” he said. “I don’t know if it means they’re closing the store or just restructuring.”
Goody’s opened Oct. 7, 2004, in an extensively remodeled section of the Village Mall. The store is located next to the former Hobby Lobby, which closed the beginning of May.
Howard said he has brokers working diligently to fill the Hobby Lobby location.
“We have people working to get another tenant in there,” he said. “We have feelers out.”
Howard said thought and planning goes into filling a large anchor spot, such as Hobby Lobby.
“You look to see what the community needs; what it’s lacking,” he said. “We hire leasing brokers and go to shopping center conventions.”
Although Danville is considered a “small market,” large retailers still are approached to see if they have would be willing to open a smaller version of their store in a small market.