The national retailer of children's clothing will largely close stores with the Gymboree, Gymboree Outlet and insane 8 brands. A news release said it will focus its resources on its more than 900 remaining stores "with the greatest potential and improve the profitability of the overall business".
Children's apparel store Gymboree is the latest retail name to shutter stores as the company fights through bankruptcy reorganization.
"We will continue to operate a majority of our stores and will continue to deliver quality merchandise and superior service to our customers at our Gymboree, Janie and Jack and insane 8 brands".
The chain has suffered thanks to declining mall traffic, online competition and fixed rent costs.
The Gymboree management team is confident that this financial restructuring is the best path forward for all of the Company's stakeholders.
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