Potential bankruptcy on the horizon for Gymboree

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Courtesy of CBS Newspath

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NEW YORK — Children’s clothing retailer Gymboree is reportedly planning to close its stores, including several right here in the Mid-South.

National reports suggest that the retailer is looking at filing for bankruptcy protection in coming weeks — which would result in the closure of almost 900 stores under the Gymboree Group brand, including Janie and Jack and Crazy 8.

There are three Gymboree locations in the Mid-South at the Shops of Saddle Creek, Wolfchase Galleria Mall and The Shops at Carriage Crossing.

There are also two Crazy 8 locations at the Oak Court Mall and Wolfchse Galleria Mall respectively.

If Gymboree follows through with filing for bankruptcy, it will be the retailer’s second time in the past two years. The first was in June 2017 when the company was dealing with debt surpassing $1 billion.

That filing resulted in 375 stores shuttering and the company ridding itself of $900 million in debt, reports said.

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