Gymboree is on the hunt for a bankruptcy loan in preparation for its second Chapter 11 in a year and a half, which could come as soon as January, according to a report from The Wall Street Journal citing people familiar with the situation. Gymboree did not immediately respond to Retail Dive's request for comment.
While a Reuters report from November claimed that the children's retailer could be considering the closure of half its stores, sources told the Wall Street Journal that the retailer is looking to close the majority of its 900 stores, with the exception of a little over 100 well-performing locations mainly of the Janie & Jack branch, which it hopes to sell.. . . more