July 12, 2017
by Patricia Garrett
Gymboree, a prominent retailer for children’s clothing and toys, is closing about 350 of its stores in the U.S. as part of its bankruptcy reorganization. The company will be left with about 900 stores after the closings. USA Today has a list of all the stores that are closing.The San Francisco-based Gymboree also operates the retail stores Gymboree Outlet, Crazy 8 and Janie and Jack.
Gymboree, which owes about $1.4 billion in debt, filed for Chapter 11 bankruptcy in June 2017. Gymboree was founded in 1976. The company reported $1.25 billion in sales for 2016. In July 2016, The Gymboree Corporation sold the Gymboree Play & Music business to Zeavion Holding.