In order to wriggle free of it’s over $1 billion dollars of debt, retailer Gymboree has filed for Chapter 11 bankruptcy. Josh King has the story (@abridgetoland).
Children’s clothing retailer Gymboree Corp. plans to close 350 stores, including one locally, as it restructures in bankruptcy.
Gymboree, which is based in San Francisco, announced that its Crazy 8 store at The Mall at Greece Ridge is slated for closing.
The company said that it’s mostly closing Gymboree and Crazy 8 stores. It also operates Janie and Jack stores.
Gymboree filed for bankruptcy protection in June.
Traditional retailers have been struggling to deal with strong competition from online companies and slowing mall traffic.