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Gymboree Expected To File For Bankruptcy, Close All 900 Stores

SAN FRANCISCO (CBS/AP) -- Children's clothing store Gymboree is reportedly preparing to close all 900 retail locations and file for bankruptcy.

The Wall Street Journal reports that Gymboree Group Inc. is expected to seek bankruptcy protection this week. It previously filed for bankruptcy in June 2017.

The company operates its namesake stores as well as Crazy 8 and Janie and Jack shops.

Gymboree has already closed about 400 stores. The Gymboree website says there are still 19 store locations within 50 miles of Boston.

Gymboree was taken private in 2010 when it was bought by private equity firm Bain Capital for $1.8 billion.

(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)

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