Gymboree Closing All Stores With Second Bankruptcy Filing
For the second time in two years, Gymboree is filing for bankruptcy. The first filing in 2017 shuttered 350 stores as the company looked to right-size its operations, but this week’s news comes with a much heavier toll as all 800+ Gymboree locations are expected to shutter.
The company cited a decline in the brick-and-mortar retail industry along with other factors contributing to their financial woes. Many of the recent chain retailers to close in the past several years have pointed a finger at difficulties with online sales revenue due to Amazon’s dominance of the market.
The San Francisco-based Gymboree Group also owns the store brands Crazy 8 and Janie and Jack. The former will also be closing all locations while the latter is being explored for a sell off.
There are three Central Ohio Gymboree locations at Easton Town Center, Polaris Fashion Place and The Mall at Tuttle Crossing, and two Crazy 8 stores — also located at Polaris and Tuttle.
No finalized closing dates have been announced at this point in time.