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.

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