Goody’s Picks DJM to Dispose of 69 Stores
By BRENDA LLOYD
June 26, 2008
ATLANTA — Goody’s Family Clothing, which filed for Chapter 11 bankruptcy on June 9, has chosen DJM Realty to manage the disposition project of leases for 69 underperforming stores that Goody’s is closing.
Goody’s said it will continue to remain fully operational and open for business during this time as DJM, a leading national retail real estate disposition and restructuring firm, handles the disposition of the retail leases, which are located primarily throughout the Southeast.
While the engagement of DJM is still subject to bankruptcy court approval, DJM is planning an auction of the leases to retailers with bids due by July 30, 2008. DJM said the 69 stores range in size from 20,574 to 52,632 square feet. Property details are available at www.djmrealty.com.
“The Goody’s portfolio offers a unique mix of mid and big box stores located in freestanding locations and strip centers with strong retail co-tenants,” said Emilio Amendola, co-president of DJM.
The leases are in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Kansas, Kentucky, Louisiana, Missouri, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia. The retailer of moderately-priced family apparel is already liquidating its inventory in these stores until the store closures are complete. |