Privately owned Goody’s Family Clothing Inc., a moderately priced retailer operating primarily in the Southeast, says its Orangeburg store will not be closed as part of its decision to file for Chapter 11 bankruptcy protection.

South Carolina stores impacted by the restructuring include those in Harbison, Florence, Hilton Head, Aiken and North Myrtle Beach.

“It is important for you to understand that Goody’s is not going out of business,” Chief Executive Paul White wrote in an open letter to customers posted on the company Web page, where the company revealed it will close more than a quarter of its locations. “While we expect the majority of our stores will remain open and will continue to operate without interruption, we plan to close some locations over the coming weeks.”

The company identified 69 stores it will close — in 18 of the 20 states where Goody’s operates. Most of these will close in the states where Goody’s has 30 or more stores each — North Carolina, Georgia, Alabama and Tennessee. That includes all three Goody’s in Chattanooga, and five of six Goody’s in Florida.

The company couldn’t immediately say how many of its 12,000 employees will lose their jobs.

The company 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.

The filing comes less than three years after corporate namesake and then chairman-CEO Robert Goodfriend embraced a $327 million buyout by New York investment firms Prentice Capital Management and GMM Capital to take private the company founded by his father as an Athens, Tenn., outlet store in 1953.

Today, Goody’s operates 355 stores across the South and Midwest. In January, the chain announced layoffs of 25 of its 500 employees at its corporate headquarters in Knoxville.

The company said it decided to file for Chapter 11 after reviewing alternatives to address “pressures from tightening credit markets, strain on merchandise flow and a sizable but isolated number of underperforming stores in the chain.”

Besides closing stores, Goody’s said it will consolidate its distribution centers by closing one facility in Russellville, Ark., reduce its expenses and create “a more appropriate capital structure.”

The company said it is seeking approval to pay its employees, continue various benefits and honor customer programs including layaway services and gift cards.

Goody’s operates stores in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia.

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