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Gymboree on the Brink of Bankruptcy 

submitted on April 13, 2017 by HouTex in "Stores / Merchants"

If you have gift cards for Gymboree brands, you may need to redeem them quickly.
Bloomberg News reports that children's clothing chain Gymboree is the latest apparel retailer on the brink of bankruptcy. The company has not made a profit in 6 years, and has outstanding debt of nearly $1 billion. Rumors are swirling that they are preparing to file for Chapter 11 bankruptcy protection before a large interest payment is due in June.

The retailer operates about 1,300 stores as Gymboree, Janie and Jack, and Crazy 8 brands. Their profit has been affected by a decline in mall shopping (where most of their stores are located) and the rise of online competitors like Amazon.com Inc. Other competitors include specialty chains like Children’s Place, and mass merchants like Target.



https://www.bloomberg.com/news.....ment-looms
http://fortune.com/2017/04/11/gymboree-bankruptcy/
        

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