There have been a lot of retailers filing for bankruptcy within the last two years. Last year’s big shocker was Sears closing all of their U.S. locations. Next in line for a big shut down is children’s clothing store Gymboree.
According to recent reports, next week the company will be filing for Chapter 11 bankruptcy. They plan to liquidate and close 900 of their remaining locations across the country.
Back in June of 2017, the clothing retailer first filed for bankruptcy. They were able to emerge in Septemeber and was seeming to do fine sale wise.
The clothing store’s base is in San Francisco. At one point in time, there were close to 1,200 different locations. However, now there are around 900 stores nationwide. The company also has 100 outlets. Unfortunately, as the second bankruptcy heads underway, it seems the store wasn’t able to say afloat.
Gymboree To Close Down All Of Their 900 Locations
Gymboree has a value chain, Crazy 8; however, there was an announcement of in November of 2018 of them closing down all the locations. Also, that they were going to do a company-wide
The company has a higher-end brand, Janie and Jack, that still has over 100 stores in the country. They are hoping to keep these stores open and are looking for a buyer.
There has not been a formal announcement for the brand as of yet. There also has not been any talk on how they are going to handle their gift card. Either way, it probably bests that you use them as soon as possible. Another option is to hold on to them until they begin their big store closing sales.
People are also going to want to make any returns or exchanges while they have stores open.