Children’s Clothing Store Files For Bankruptcy
Children’s store Gymboree announced that they are closing 350 stores as they begin a restructuring after filing for bankruptcy protection. According to a report in USA Today, they are based in San Francisco.
Gymboree also operates Crazy 8 stores and Janie and Jack stores. The company will have more than 900 locations after the stores are shut down. By shutting stores they can concentrate funds on the ones that are doing better.
Gymboree joins Sears, Macy’s, JC Penney, Kmart, Payless, Radio Shack and other stores forced to make changes as a result of changes in people’s shopping habits and more people going to online shopping.
Closing sales are expected to start on Tuesday in many locations.
Minnesota stores scheduled to close are:
- Southdale Center
- Burnsville Center
- Eden Prairie
- River Hills Mall, Mankato
- The Shoppes at Arbor Lake, Maple Grove
- Medford Outlet Center