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Report: Gymboree expected to close most of its remaining stores

Posted at 2:29 PM, Jan 15, 2019

Children's clothing retailer Gymboree, which also operates Crazy 8 and Janie and Jack, is expected to file for bankruptcy this week and close most of its remaining 900 locations this year, CNBC reported .

CNBC reported that Gymboree is expected to close most locations operating as Gymboree and Crazy 8 locations, and sell off its high-end Janie and Jack chain.

Gymboree has not officially confirmed the CNBC report.

If Gymboree files for bankruptcy this week, it will mark the second time it has done so in 18 months. In July 2017, Gymboree shuttered 350 locations nationwide. At the time, Gymboree operated 1,281 stores nationwide.

Many of Gymboree's locations are located in shopping malls, where foot traffic has seen a dramatic decrease with a large number of malls losing anchors such as Sears and JCPenney.