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

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