KNOXVILLE, Tenn (WVLT) -- It's the end of the road for most of the associates at Goody's corporate office.

A Goody's manager with knowledge of the situation tells Volunteer TV News he's been told he and his entire staff are being fired today (Monday, January 12.)

He says all other departments are doing the same.

Our source tells us that only a small number of staff will be keep on to handle the liquidation, and when that's finished they too will be let go.

Employees have called the VolunteerTV.com newsroom saying hundreds will be out of a job.

Goody's Family Clothing operates 287 department stores across the U.S., mostly in the southeast. The company employed about ten thousand workers at the end of 2008.

Stay connected to Volunteer TV News and VolunteerTV.com for continued coverage of this developing news story.