Goody's Family Chapter 11 filing expected-reports
NEW YORK, June 6 (Reuters) - Goody's Family Clothing is likely to file for Chapter 11 bankruptcy protection amid a slowdown in demand for apparel, according to media reports on Friday.
The clothing retailer, which sells Levi's jeans and Ashley Judd-branded women's clothes at its retail outlets and online, is expected to file for bankruptcy by early next week, according to reports in the New York Post and Women's Wear Daily. The reports cited unnamed sources.
A representative from Goody's did not immediately respond to calls.
Goody's is a privately held company owned by GMM Capital LLC and PGDYS LLC. Prentice Capital Management is the managing member of PGDYS. A call to Prentice Capital Management was not immediately returned.
The Knoxville, Tennessee, retailer of moderately priced family apparel operated 377 stores, primarily in the Southern United States, as of March. (Reporting by Chelsea Emery, editing by Gerald E. McCormick)
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