Goody’s Bankruptcy was Goody for Me

by Kevin on July 11, 2008

With every dark cloud there is a silver lining, right?

Goody’s Family Clothing has filed for bankruptcy and is closing stores all over the place. They are closing the three stores here in our city. Workers stand out on the street with tall signs to get the attention of folks passing by in their cars, “Everything 20-40% off!”

We haven’t had much success in the past in shopping at closing store sales. By the time I get there, everything is already picked over. A few weekends ago we were out shopping for some gardening things at one of the national chains and passed by the guy with the sign. “20-40% off!”

Hmmm. Tempting. Oh what the heck, let’s give it a try.

Now let me note, shopping without a plan is very dangerous. That’s why you go to the grocery store with a list (and not hungry, to boot). No list equals probably spending more money than you need to spend.

So we went in and the store seemed pretty picked over and rather unorganized (as one might imagine). As my wife went through the women’s clothing looking for deals, I made my way to the back of the store — the shoe section.

I’ve been meaning to write about my tennis shoes for some time, and I’ll put up a picture sometime later. In regards to any shoes that I own, I pretty much wear them until they’re falling apart. Now don’t get me wrong, I don’t wear destroyed shoes out to a black tie dinner (not that I go to many of those). But I’ve had my tennis shoes since high school. They still fit. They’ve been used as running shoes and yard work shoes. I wore them when we did a Habitat for Humanity house with church and got paint on them. In short, they look just right.

But I’m 24 now, so it’s been at least 6 years since I bought tennis shoes. If I could find a deal, I figured, it might be worth it.

With the store closing, the shoes weren’t organized at all and I was figuring finding something in my size would be impossible. But I spied a group of Adidas shoe boxes together, and one was in my size. I opened it up to find these:

Adidas Shoes

These shoes retail for anywhere from $60 to $65 depending on who you ask. Goody’s box said $60, Adidas’ website says $65.

Price on sale with the store closing? $29.98. A 50% discount off of retail.

That was a price that I figured could not be beat for quality tennis shoes. I was figuring I would have to buy cheaper shoes at the price point, or pay $75-100 for better shoes in the future. So $30 for Adidas running shoes? I’m sold. We bought the pair, and my wife picked up a very nice dress for $15.

I didn’t invent this need. It isn’t a want that turned into a “need”… I really needed shoes. But again, I looked for a deal, and I didn’t pay full price.

Has anyone else enjoyed getting steep discounts on goods from stores that are closing?

(This post was included in the 69th Edition of the Carnival of Money Stories.)

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Almost Frugal The 69th Carnival of Money Stories — almost frugal
July 22, 2008 at 5:02 am


Scott July 13, 2008 at 5:43 pm

I tend to buy more items when hungry at the grocery store too. When I shop with my kids, I tend to stick to the basics, and get out quickly. When I shop by myself, I can buy more items, since I have more time.

Kelly from Almost Frugal July 21, 2008 at 10:47 am

This post has been chosen to be part of the 69th Carnival of Money Stories at Almost Frugal, going live on July 22nd. Don’t forget to link back to the carnival!

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