Report : Gymboree Expected To File For Bankruptcy
(RTTNews.com) - Children's clothing retailer Gymboree Group Inc. is expected to seek bankruptcy protection this week, with plans to close all 900 of its stores, the Wall Street Journal reported citing people familiar with the matter.
The expected bankruptcy comes less than two years after the retailer's first stint in bankruptcy court, when it closed a portion of its stores and saw lenders take control of the business.
The stores operate under the banners Gymboree, Janie and Jack and Crazy 8. In December, Gymboree announced it began a strategic review of the three brands, which could result in a sale or other transactions at the brand level.
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