Monday, May 8, 2017

Report: Gymboree to close up to 350 stores in imminent Chapter 11 filing

Image result for gymboree storeGymboree is planning to close up to 350 stores as part of a broader restructuring process under an imminent Chapter 11 bankruptcy filing, unnamed sources told The Wall Street Journal. The retailer has reached out to firms known for liquidating companies' inventories to help shutter its stores, the sources said.

Weeks after credit rating agency Fitch listed Gymboree on its "Bonds of Concern” list of retailers in danger of default, the children’s apparel retailer is preparing a Chapter 11 bankruptcy filing ahead of a scheduled June 1 interest payment, unnamed sources told Bloomberg. . . . more

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