Contact Us

Children’s Retailer Gymboree Files Bankruptcy

Sofia Carson at Gymboree Santa Monica
Vivien Killilea, Getty Images

Making it in the world of retail these days is proving to be difficult. Children’s retailer Gymboree has filed for Chapter 11 bankruptcy protection while the company restructures and tries to emerge as a more leaner profitable company. Operating more than 1200 stores, the company plans to close 375 to 450 of its stores while it tries to pay off more than a billion dollars of its $1.4 billion debt. The retailer employs more than 10,500 hourly workers and 11,000 employees over all. No announcement has been made as of yet as to which stores are doomed and will be closing.

Gymboree CEO Daniel Griesemer had this to say about the company,

We expect to move through this process quickly and emerge as a stronger organization that is better positioned in today’s evolving retail landscape, with the right size store footprint and greater financial flexibility to invest in Gymboree’s long-term growth.”

This announcement comes other local retailers have announced they are closing or filing for Chapter 11 bankruptcy protection too – Macy’s, Gander Mountain, Rue 21, JCPenney, WetSeal, Gordman’s and others.

Best of Hot 107.3 Jamz

Recommended for You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://hot1073jamz.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for HOT VIP quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive HOT VIP contests, events, coupons, presales, and much more delivered to you for FREE.