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Just inside the front door of Goody’s Family Clothing store, the largest retailer in Candlers Station shopping center, Monday afternoon was a sign reading “Now Hiring.”
But the store, which employs about 25, is one of 69 locations the Knoxville, Tenn.-based chain plans to close.
The company filed for Chapter 11 bankruptcy, also known as a petition for reorganization, on Monday.
According to a news release from the company, Goody’s stores will continue to honor gift cards, layaway purchases and tuxedo rentals.
Paul White, CEO of Goody’s Family Clothing Inc., said in a news release that the company is facing “considerable challenges.
“After careful analysis, we made the decision to restructure the business through a Chapter 11 filing in order to streamline operations, refocus on our core business, and strengthen our balance sheet so that Goody’s is better positioned for the future.”
As part of its plan, the company announced it would close 69 “underperforming” stores beginning this summer.
A letter Goody’s released for customers said some locations will be closed “over the coming weeks” but that the exact timing has to be approved by the bankruptcy court.
The Lynchburg store is the only site in Virginia slated to close. Other stores in surrounding regions — Goody’s Web site lists one each in Roanoke, Salem, South Boston and Danville — would remain open.
The Goody’s store in Lynchburg is 40,000 square feet, according to a property listing for Candlers Station on Developers Diversified Realty’s Web site.
It is the largest occupied store in the shopping center. Cinemark Movies 10 is the second largest at 29,000 square feet.
Candlers Station is also home to a Staples store, several restaurants, and other clothing retailers such as T.J. Maxx and Steve & Barry’s.
It was formerly home to a Circuit City store that closed in February 2005. The 53,000-square-foot Circuit City slot is one of three empty spaces at Candlers Station, according to the property listing.
According to News & Advance records, Goody’s announced in January 1994 it would open a store in Lynchburg.
A company official said Lynchburg was chosen based on requests from customers shopping at other Goody’s stores in the state.
The store opened in May that year.
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Reader Reactions
By the way, the Charlottesville store is closing also. The Goody’s in Cville was in the same position as the Value City here; they lost their lease. Value City did a brisk business in the mall and if the minimum-to-moderate working class heroes needed Goody’s as one of their choices, I doubt they would be under performing- TJ Maxx seems to be doing OK in the same center.
One of the good things about the rising cost of oil is that developers will need to rethink their plans and realize that it would be more prudent to reuse buildings and stay closer to the center of population than continue the outward growth.
...another step in the slow slide out of Lynchburg. Just think how the city looked about 25-30 years ago where Pittman Plaza and Hill’s Shopping Center where the hottest retail spots. Now the market is slowly drifting out of the city limits.
Amen to Puffin. It amazes me that in Europe you can see 600 year old shopping districts in immaculate condition…here they are built to last 20 years at most, and are then essentially abandoned so that more land can be bulldozed for the next “hot” project. Only a few make any money on the deal, certainly not the city, county or residents. Our disposable mentality is costing us the natural beauty of the area which attracted us in the first place. What a shame!
Another defunct shopping center that developers could revamp rather than knocking down the last of Lynchburg’s trees and ruining more of the environment.
With Value City & Goody’s both closing, there will be no place for minimum-to-moderate working class heroes to shop.
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