Goody's lays off most of corporate associates, to file for Chapter 7 Tuesday

[NutmegYankee]

Source: WVLT TV

KNOXVILLE, Tenn (WVLT) -- Goody's has begun the process of closing its Knoxville, Tennessee, distribution and corporate offices by laying off most of its associates.
...

The first terminations were to begin today, or within fourteen days, according to the letter. The termination letter says all employees will learn their termination date within 14 days. Our source says most people would be terminated today.

The entire facility closure, according to the letter, won't be complete until at least March 16th, 2009, and a small numbers of employees will remain employed until that date.

No severance payments are being handed out, and all medical, dental, life and disability benefits end Monday night at midnight.

Read more: http://www.volunteertv.com/news/headlines/37448954.html

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All those people just lost their benefits and job overnight. Another casualty of the Bush Economy.

[K Gardner]

1. I drove by the corporate office yesterday, news trucks everywhere. Its big news here, but

what some don't know is that Goody's knew they were going under and quit paying their bills in December. I'd say a lot of retailers put on a good face through the holidays - and we'll be seeing more of these rather "abrupt" closings.

E. TN also lost Sea Ray and Alcoa jobs - been a while since this area has been hit this hard.

[machI]

2. Goody's closed up in my town over a year ago.

I liked their shoes, the price was right.

[ChoralScholar]

3. Goody's was pretty big here in Arkansas

There was a store in nearly every town of 10,000 or more, plus a huge distribution center in Russellville that employed a lot of people.

I honestly thought they were gone long ago.

[Laura PourMeADrink]

4. I am not surprised. I am surprised they haven't gone out of business

sooner - if you have ever been in one. That being said, this is absolutely horrible treatment
of employees and I feel very sorry for them.

glad it's not Goody's powders - the wonder drug for instant relief of a headache.

[ayeshahaqqiqa]

5. There's one in Harrison AR that was still open

I thought. It is in a mall that contained it and a JC Penney's. The mall is basically dead.

[underpants]

6. Oy! What a headache

[DemoTex]

10. Indeed. Wonder what #43 thinks (King Richard IVIII).

[underpants]

11. according to CEO Paul White's letter.

"We have made every effort to stabilize and preserve the business, but unfortunately, as announced today Goody's has determined that it is not able to continue operations and is beginning the orderly discontinuation of operations," according to CEO Paul White's letter.

[ChairmanAgnostic]

7. What the hell is a Goodys? Never heard of them.

[sarah FAILIN]

8. clothing store..

lower end quality but not really priced so cheap.

[happygoluckytoyou]

9. another SUCCESS STORY with a tragic ending ON W's watch...... bet they voted GOP until 2008 ! ! !

gee... dont worry... the rich will trickle down on us with their wealth and goodness...
guess it's time to go back to church and PRAY... because GOD is on their side...

this is probably JUST A TEST OF THEIR RESOLVE