Goodys liquidating virgo and dating
For past BNET stories about Goody's troubles, click here.[Source: CNNMoney.com] Have mega sales changed the way people shop?
The move, which comes less than four months after the privately held retailer emerged from Chapter 11 bankruptcy protection, affects the Knoxville, Tenn.-based chain's 287 stores scattered throughout 20 Midwestern and Southern states, said Cathy Hershcopf, a partner at Cooley Godward Kronish LLP.
The 59-year-old retailer has now sought bankruptcy protection for a second time and executives with the company are speaking with competitors about whether they would like to purchase some of the chain’s stores.
Goody’s is owned by PGDYS Lending, which is managed by Prentice Capital Management.
-- After a holiday season marked by deep discounts, shoppers have become accustomed to those 75 percent-off sale signs, and retailers are worried they'll have to quickly slash prices on spring and summer merchandise to attract customers. Crew Group Inc., are already trimming prices on their spring collections.
Analysts say the mega discounts of the past few months may have altered consumers' psyches: Shoppers may be more hesitant to splurge on items they are used to getting for half price. "It's a vicious cycle that on one wants to continue," says Gilbert Harrison, chairman of Financo Inc., an investment banking firm specializing in retail.