Gymboree Corp., the struggling children’s clothing retailer, is preparing to file for bankruptcy as it faces a June 1 interest payment on its debt, according to people with knowledge of the matter.
Capital-controlled company is seeking to reorganize its debt load and
may transfer control to its lenders, including Searchlight Capital,
Brigade Capital Management and Oppenheimer Holdings, said the people,
who asked not to be identified because the process isn’t public.. . . more