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Report: Gymboree prepares for second bankruptcy filing


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Report: Gymboree prepares for second bankruptcy filing

U.S. children's apparel retailer The Gymboree Corp. is likely to file for Chapter 11 protection in the week beginning Jan. 14, The Wall Street Journal reported, citing people familiar with the matter.

The retailer, which eliminated more than $900 million in debt after completing a financial restructuring in September 2017, plans to close all of its 900 stores, the Jan. 13 report added. The retail chain closed 375 stores in June 2017 at the time of its first bankruptcy filing.

The future of its Janie and Jack store was unclear, the Journal said. The chain also could be liquidated if no buyer is found, it added.

Gymboree sought a loan in December 2018 to keep some of its stores open while it looked for a buyer.