Two More Retail Bankruptcies, Goody's And Gottschalks
Gottschalks, a regional department store chain with 61 stores (most of them in California) has filed for Chapter 11 bankruptcy, but will continue to operate as usual. Goody's a clothing retailer that emerged from bankruptcy in October, however, has failed and will be liquidated.
Gottschalks files for bankruptcy protection [Reuters]
Check Out Line: Chapter 11, here we come [Reuters]
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Comments:
Gottschalks failing had an interesting side effect in my city--they supply nearly a million in annual ad revenue for the paper, and as a result of losing that a good chunk of the paper staff was let go. This was the second large layoff at that paper recently and I imagine they're not far from being forced under completely.
Huh. I thought Gottschalks went out of business years ago.
I don't know Gottschalks but I do know Goody's. I hated that store so I feel very little pity for them. The executives who ran that company were arrogant pr@@@s.
I miss our Goody's. :-( It was a great place to shop and now the shopping center where it was located between Toys R Us and Hastings feels a little more empty, even though they threw in a PetSmart next to Hastings to make up for the noise difference. LoL
In all seriousness, Goody's was a great place to shop. Even more convienent when my sister worked there and got a discount.
Never heard of Gottschalks, but there are a few Goody's around here. I went in one. The thing that struck me most was that the whole store was full of clothing brands I'd never heard of in my life. I'm not a brand snob, but seriously, not a single brand I'd ever seen before or since (Duck's Head clothing?).
@redskull: I think they used to carry that in the Chicago Marshall Field's. When I poke around, it looks to me like a brand that used to be bigger and now may be pretty limited.
Many more on the way.
Now that Mervyns and Gottschalks are gone, there are no more department stores in my hometown (of 100k+ people). Wow.
Duck Head's been around a long time. Khaki pants were what they made their reputation with. Don't know their reputation now, but they were once well respected for their work clothes. Just because it's not WalMart's Nobo brand or a high end Guess brand doesn't make it worthless.
@redskull: Duck Head is a well known and fairly decent brand, similar to Dockers (in price and quality). Surprised you've never heard of them. I want to say they were even a popular/trendy brand starting when I was in middle school (~1990 or so, onward).
Goody's had a nice little niche--more consistent than SteinMart or TJMaxx, less irritating (and better quality) than Walmart. They were also pretty well known for working with Red Cross and other groups in helping clothe people during disaster relief. It's a shame, because I can imagine a lot of lower/middle class people will have to go to Walmart for clothes now.
Finally, my boycott of Goodys pays off. Years ago I attempted to return a Christmas present that didn't fit and they wouldn't allow it (this was when I was a teenager). I believe there was something to do with maybe it was on sale at the time or something. So I vowed never to shop there again, and I haven't. So my one man boycott has finally brought them down I see. It also worked against a local Pizza Hut that had horrible service. Do you hear me corporate america? I have the power!
Gottschalks is based in Fresno, Calif., where I work for the local paper. We're covering the story today if you want the latest on what's happening and how it will affect our area: http://www.fresnobee.com/updates/story/1128762.html
G is an advertiser with us, so it will be interesting to see how the affects of this play out.
@CatherineSteinbeck: Yikes! I hope the bankruptcy doesn't affect your paper the way it did the one in @Ratty's town! I wish you luck. Hopefully they can restructure and won't liquidate.
The only reason I care about this is because Goody's is based in my home town of Knoxville, TN. Their liquidation and store closings will certainly harm the local economy.
I went to highschool with the Goodfriend's daughter.
Goody's was a great store for middle and low income folks. In a lot of rural areas it was THE place to shop for quality clothes that didnt break the bank. I could fill up a bugy with some nice stuff and not break $200. At one point, most of my wardrobe came from goodys. I moved to a location where there wasnt one close by and actuall miss shopping there..
My best theory was that in some areas they just had too many stores. In some smaller towns they would have 2 or 3, and that was too many. Too much growth, too quickly.
Sad news indeed.
@Ash78: I was in college during those days and everyone had duck head stuff! It was oh so cool to make shorts from the pants, making sure you had a ragged edge.
Perhaps this was just a southern preppie thing tho...
@redskull: Duck Head used to be a really trendy line of khakis. Think Old Navy. Duck Head pants, shorts and the best - shorts you made from their pants... I went to school at the beach, down in the south and was in a sorority ... duck head was essential goods.
But interestingly the label ended up being a mess and Goody's bought the brand outright.
[en.wikipedia.org]
@hovy: If I had to guess why they went bankrupt, I'd guess it'd be because no one could pronounce it.
Gots chalks? We do!
My sister is now out of a job with the Hattiesburg, MS Goody's. I have no idea where the Pentacostal women will buy their long denim dresses now.
I bet Dillards is next.
The good news is that your gift cards can double
as drink coasters.