Gymboree to Close Up to 450 Stores, Filing for Bankruptcy

Published on: 13 Jun, 2017

The Gymboree Corporation (NASDAQ: GYMB), a Kids’ clothing retailer, filed for a Chapter 11 bankruptcy reorganization to reduce its debts. The company also announced to close stores in respond to the pressure on retailers.

Gymboree was founded in San Francisco in 1975 as a program aiming to nurturing child learning through playtime with their parents. The company now operated under three brands, Gymboree, Janie & Jack and Crazy 8. The first store was opened in 1986 and currently the company has stores around the world.

According to the company, it plans to close 375 to 450 of its 1,281 stores worldwide but will remain in business. Gymboree said in court filings that it plans to improve its underdeveloped online presence. Now it has over 11,000 workers, including 10,500 hourly employees.

“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,” Daniel Griesemer, the CEO of Gymboree, said in the statement.

Even though the company filed for bankruptcy, it reported EBITDA of $71 million in 2016.

Gymboree did not release the list of store closures, and declined to make executives available to comment.

Ratings

Ratings
  • 3151Views
  • 14Comments

Recommend to Friends

  • facebook
  • Twitter
  • google plus
  • pinterest
  • Digg
  • stumbleupon
  • Reddit
  • linkedin

Danny Abramov

Email: danny@financialinsiders.com

@Newsletter

Sign Up for Weekly Updates

Opt-into our eNewsletter NOW! For the Latest Trending Financial News Topics in Cannabis, Tech, Biotechs, Precious Metals, Energy, Renewable Energy and much more!

Related Posts

16 Jun, 2017 3222
29 Jun, 2017 3036
01 Sep, 2017 4441
25 Sep, 2017 2651

14 Comments

goyard bag

Jun 26, 2023 at 04 57 pm

This actually answered my problem, thank you!
goyard bag http://www.goyardsoutlet.com

REPLY (0)

supreme

Jun 27, 2023 at 07 31 am

Hello! I simply wish to give an enormous thumbs up for the good information you might have here on this post. I can be coming back to your blog for extra soon.
supreme http://www.supreme.com.co

REPLY (0)

bape clothing

Jun 27, 2023 at 10 39 pm

This really answered my drawback, thank you!
bape clothing http://www.bapesclothing.com

REPLY (0)

supreme clothing

Jun 29, 2023 at 04 24 am

This actually answered my drawback, thanks!
supreme clothing http://www.supremeoutlet.us.com

REPLY (0)

chrome hearts outlet

Jul 03, 2023 at 02 54 pm

An interesting dialogue is worth comment. I think that you should write extra on this subject, it won't be a taboo subject however usually people are not sufficient to talk on such topics. To the next. Cheers
chrome hearts outlet http://www.chromeheartstoreonline.com

REPLY (0)

kyrie 9

Jul 04, 2023 at 05 36 am

Spot on with this write-up, I really think this web site wants rather more consideration. I抣l probably be once more to learn rather more, thanks for that info.
kyrie 9 http://www.kyrie9.us

REPLY (0)

golden goose

Jul 05, 2023 at 12 27 pm

Spot on with this write-up, I truly suppose this website needs much more consideration. I抣l in all probability be again to learn far more, thanks for that info.
golden goose http://www.goldengoosesonline.com

REPLY (0)

kyrie shoes

Jul 06, 2023 at 02 55 am

Once I originally commented I clicked the -Notify me when new feedback are added- checkbox and now every time a comment is added I get 4 emails with the same comment. Is there any approach you can take away me from that service? Thanks!
kyrie shoes http://www.kyrie9.us

REPLY (0)

supreme hoodie

Jul 06, 2023 at 06 19 pm

An interesting dialogue is worth comment. I feel that it's best to write more on this subject, it might not be a taboo topic but generally persons are not enough to talk on such topics. To the next. Cheers
supreme hoodie http://www.supremes-clothing.us.com

REPLY (0)

cheap jordan shoes

Jul 07, 2023 at 08 59 am

It抯 arduous to seek out knowledgeable individuals on this subject, however you sound like you recognize what you抮e speaking about! Thanks
cheap jordan shoes http://www.cheapjordanss.us.com

REPLY (0)

off white hoodie

Jul 14, 2023 at 03 51 pm

It is best to participate in a contest for one of the best blogs on the web. I'll recommend this web site!
off white hoodie http://www.off-whites.us

REPLY (0)

jordan shoes

Jul 15, 2023 at 10 00 am

very good publish, i actually love this web site, keep on it
jordan shoes http://www.jordanstoreonline.com

REPLY (0)

alexander mcqueen shoes

Jul 16, 2023 at 04 04 am

Good post. I learn something more difficult on different blogs everyday. It would all the time be stimulating to learn content material from other writers and observe a bit something from their store. I抎 favor to make use of some with the content on my weblog whether you don抰 mind. Natually I抣l provide you with a hyperlink in your net blog. Thanks for sharing.
alexander mcqueen shoes http://www.alexandermcqueenoutlet.us

REPLY (0)

100% real jordans for cheap

Jul 17, 2023 at 12 11 pm

This site is mostly a walk-via for all of the information you wanted about this and didn抰 know who to ask. Glimpse right here, and also you抣l undoubtedly discover it.
100% real jordans for cheap http://www.jordansforcheap.us.com

REPLY (0)