Monday, October 2, 2017
Gymboree emerges from bankruptcy
Gymboree has emerged from bankruptcy with a reduced footprint — and with new owners.
The children's apparel retailer announced Friday that it has successfully completed its financial restructuring and emerged from Chapter 11 as a new corporation under the name Gymboree Group. The company exited bankruptcy with a reorganization plan that includes a comprehensive recapitalization that will eliminate more than $900 billion in debt and a reduced store footprint.
Gymboree filed for Chapter 11 bankruptcy in June 2017. According to court filings, the company plans to close some 350 underperforming stores. . . . more