Clothing Store Chain Files For Bankruptcy

Goody's Family Clothing chain is filing for Chapter 11 bankruptcy protection and will close 69 underperforming stores and an Arkansas distribution center.

Goody's has a number of stores in Oklahoma, including Bartlesville, McAlester, Muskogee, Tahlequah, Stillwater and Ponca City.

The company did not immediately say which stores will close this summer or how many of its 12,000 employees will lose their jobs. Spokeswoman Shannon Stucky says Goody's is still determining which stores should close.

Goody's said it was filing a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware, where the company is registered.

Goody's operates 355 stores in 20 states across the South and Midwest.