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Source: money.cnn.com...
Goody's Family Clothing Inc. (GDYS) is liquidating operations, becoming the first high-profile retailer to go under in a new year that is expected to see many more going-out-of-business announcements.
The moderately-priced chain was unable to restructure terms with its creditors and is in the process of seeking bids to liquidate substantially all of its inventory and other assets, said Cathy Hershcopf, bankruptcy attorney at law firm Cooley Godward Kronish LLP