FINANCE

Gymboree reportedly seeks bankruptcy loan, weighs closing nearly all its stores

BY Marianne Wilson

Gymboree Group Inc. may be going back into bankruptcy.

The struggling children’s clothing retailer is seeking a bankruptcy loan in preparation for filing Chapter 11 bankruptcy protection, Marketwatch reported, citing a report by The Wall Street Journal. Gymboree would likely close a majority of its 900 stores, the report said, with the retailer putting up more than 100 stores — notably its well-performing upscale Janie & Jack outlets — up for sale. (Gymboree previously filed for bankruptcy protection in June 2017, and emerged later that year.)

On Dec. 5, Gymboree announced a “strategic review” and said it would close its value-oriented Crazy 8 stores and “significantly” reduce the number of Gymboree store locations in 2019.

To read more, click here.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Do you expect your business to be challenged by the ongoing escalation of the the heightened U.S.-China trade dispute?