Goody's clothing firm files for bankruptcy

Goody’s Family Clothing Inc. filed for bankruptcy, but the Sedalia store will remain open.

A release from the parent company, headquartered in Knoxville, Tenn., states that the retailer filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code.

Stores in Joplin, Hannibal and Jefferson City are among the 69 stores expected to close under the reorganization. Goody’s operates 355 stores in 20 states.

Sedalia Crossings developer Jerry Lechtenberg said Goody’s has been a stable tenant in the center, 3040 W. Broadway Blvd.

“They said they are continuing to operate as usual in Sedalia,” he said.

The store has a 10-year lease, and has been in the center since 2006. The store occupies about 23,000 square feet of the 38,000-square-foot center.

“I think they’re good (for other center tenants), because they’re the anchor tenant and they’re a draw. When they have a sale, or during the holiday season when there are a lot of shoppers,” they bring people in, he said.

Lechtenberg said he was told the store is profitable.

The Sedalia store is good for business in the rest of the shopping center, said Eddie DeJaynes, operations manager of LD Enterprises, which runs Subway.

DeJaynes, who oversaw Taco Del Mar in the same center, said it would have an impact if Goody’s were to close.

“It wouldn’t be good,” he said.

Subway opened about a year ago, and “the Subway business has been great,” DeJaynes said.

Taco Del Mar recently shuttered due to reasons other than sales. DeJaynes said, “It just didn’t work from a corporate standpoint.”