Gymboree Archives – CULTURE MIX

Gymboree is closing all of its stores after bankruptcy problems

January 14, 2019

by Patricia Garrett

Gymboree, a prominent retailer for children’s clothing and toys, is closing all of its remaining stores (about 900) after the company failed to rebound from a bankruptcy. According to Market Watch, Gymboree is expected to file for a second bankruptcy, which will shutter its remaining stores.

In 2017, Gymboree closed about 350 of its stores in the U.S. as part of its first bankruptcy reorganization. The San Francisco-based Gymboree also operated the retail stores Gymboree Outlet, Crazy 8 and Janie and Jack. According to the Wall Street Journal, the fate of Janie and Jack is uncertain since Gymboree is still seeking a buyer for the brand. If no buyer is found, Janie and Jack stores will also be closed.

Gymboree, which was founded in 1976, filed for Chapter 11 bankruptcy in June 2017. 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.

https://www.youtube.com/watch?v=E53gWSM8N6o

Fashion retail in crisis: Top 15 companies that will have the most store closures in 2018

June 7, 2018

by Daphne Sorenson

Shopping habits have radically changed in the past 20 years. Online shopping is a trend that’s not only here to stay, it’s growing. And many retail companies that rely on brick-and-mortar stores for most of their sales have seen their business suffer as a result. The fashion retail business has been hit especially hard. Business Insider recently published a list of retailers that will close the most stores in 2018, and half of the companies on the list are retailers whose core business is fashion.

Trying on clothes and accessories in person and being able to bring home those purchases immediately may seem like the main reasons why people would want to do their fashion shopping in a brick-and-mortar store. But the reality is that many customers have been increasingly turned off by shopping in stores, for various reasons such as lousy customer service and the inconvenience of having to travel to a brick-and-mortar store. With many online retailers offering deep discounts, free shipping and convenient return policies, it’s easy to see why online shopping has become so attractive to consumers.

Here are the fashion retail companies that are facing the most closures in 2018, according to Business Insider and other sources.

1. Ascena Retail Group (Parent company of Ann Taylor, Loft, Lane Bryant, Dress Barn, Catherines and Maurices)

Number of stores expected to close: 667

https://www.youtube.com/watch?v=v247HadJXyM

2. Gap Inc. (Parent company of Gap, Banana Republic, Old Navy, Intermix, Weddington Way and Athleta)

Number of stores expected to close: 200

3. The Children’s Place

Number of stores expected to close: 144

5. Signet Jewelers (Parent company of Sterling Jewelers, Kay Jewelers, Jared and Zales)

Number of stores expected to close: 120

6. Foot Locker

Number of stores expected to close: 110

https://www.youtube.com/watch?v=7lOsE2FBdHE

7. Gymboree

Number of stores expected to close: 102

8. Payless ShoeSource

Number of stores expected to close: 100

9. Abercrombie & Fitch (Parent company of Abercrombie & Fitch, Abercrombie Kids and Hollister Co.)

Number of stores expected to close: 60

10. Michael Kors

Number of stores expected to close: 50

11. Crocs

Number of stores expected to close: 49

https://www.youtube.com/watch?v=S2GPd4LIuz4

12. Bon-Ton

Number of stores expected to close: 42

13. Guess

Number of stores expected to close: 45

14. Henri Bendel

Number of stores expected to close: 23

15. J. Crew (tie)

Number of stores expected to close: 20

15. Victoria’s Secret (tie)

Number of stores expected to close: 20

https://www.youtube.com/watch?v=6gQOi6LeiQo

Gymboree closing about 350 stores as part of bankruptcy restructuring

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.