vw polo blue motion Goody’s clothing store to close here
Goody’s opened two years and three months ago in Muskogee but is one of 69 “underperforming stores” to be closed in a voluntary bankruptcy restructuring.
“That is a blow I am so very sorry to hear that,” said Muskogee Chamber of Commerce Director Sue Harris. “I’m sure that Vector Properties will work quickly to get someone to lease that prime spot.”
But Vector Securities Corp., managing agent for River City Plaza shopping strip at 11th Street and Shawnee Bypass, appears to have been just as surprised as the Muskogee business community.
Vice President Jim Dill was not in his Tulsa office late Monday, but his secretary, Marie Alsadi, said news of Goody’s announcement came as a surprise.
Goody’s 25,000 square foot Muskogee store cost $1.3 million to build, it was announced earlier. It anchors River City Plaza, which is near the Wal Mart Supercenter.
Based in Knoxville, Tenn., Goody’s Family Clothing, Inc. operates 355 Goody’s stores in 20 states, according to its Monday announcement. At the opening of Goody’s in Muskogee, Goody’s said it had 381 stores in operation.
Goody’s operations have an annual revenue of more than $1 billion, its announcement said.
Goody’s has been in business for 55 years and stated it recently had faced considerable financial challenges. But it is not going out of business, its statement reads.
It announced it had to review alternatives to pressures from tightening credit markets, strain on merchandise flow and a sizable but isolated number of underperforming stores in the chain.
In addition to closing some stores, Goody’s plans to consolidate its distribution centers by closing the facility in Russellville, Ark.
Goody’s Muskogee Manager, Bill Daniels, referred questions about whether merchandise here would be put on sale here or moved elsewhere to an out of state public relations firm. An employee said a spokesman for the firm would return calls today.
Daniels said Goody’s will be open today and no announcement has been made as to when the store will close.
Goody’s also has a store operating in Tahlequah located at Cherokee Center at 1749 Muskogee Ave. that will not be closing.
Goody’s announced its reorganization will be financed by $210 million in debtor in possession financing from three financial institutions.
Goody’s lists it has the following Oklahoma stores located within 200 miles of Muskogee: Ada, Ardmore, Bartlesville, Chickasha, Duncan, Lawton and McAlester.
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