Published: Thu, July 13, 2017
Markets | By Lucia Cruz

Gymboree to close approximately 350 stores

Gymboree to close approximately 350 stores

Children's apparel retailer Gymboree Corp. said it would close about 350 of its Gymboree, Janie and Jack and insane 8 stores nationwide - including 24 in California - as it restructures its business after filing for Chapter 11 bankruptcy protection in June. Seven of the locations are in Colorado.

In the Bay Area, the San Francisco-based company, which owns the Gymboree, Crazy 8 and Janie and Jack brands, will close a total of 11 stores.

The closings will begin Tuesday, July 18, the company said.

The Colorado locations are in FlatIron Crossing mall in Broomfield, Cherry Creek shopping center in Denver, Foothills Fashion Mall in Fort Collins, Mesa Mall in Grand Junction, Promendade Shops at Centerra in Loveland, Orchard Town Center in Westminster and Aspen Grove in Littleton.

The stores at Virginia Center Commons, Regency Square, Chesterfield Towne Center and Stony Point will be closing.

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West Acres' Senior Vice President of Marketing and Business Development Alissa Adams told The Forum that the closing news "does not come as a surprise to us" as Gymboree adjusts its national footprint. Gymboree Corp. also sells children's clothing and merchandise under the Janie and Jack brand.

On June 11, the corporation signed a restructuring support agreement with a majority of its term loan lenders, securing stakeholder support for a financial restructuring and recapitalization facilitated by Chapter 11 bankruptcy filed with the U.S. Bankruptcy Court for the Eastern District of Virginia. Six North Carolina Gymboree stores will close, including the one at Charlotte's Northlake Mall and at Hickory's Valley Hills Mall. The goal, it said, is a "right size store base".

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Other prominent retailers either closing stores or going out of business include Abercrombie & Fitch, American Apparel, Bebe, Crocs, Family Christian Stores, GameStop, Gander Mountain, Guess, hhGregg, Michael Kors, Payless, Radio Shack, Rue21, Staples, The Limited, True Religion and Wet Seal.

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