Children's clothing retailer Gymboree Group Inc. is selling its brand to The Children's Place and its Janie and Jack clothing line to Gap Inc.
The Children's Place will pay $76 million for the rights to Gymboree and Crazy 8 brand, and assume a contract with Zeavion Holding Co., which acquired Gymboree's Play & Music business in 2016, according to a bankruptcy court document filed Saturday.
Gap Inc. will pay $35 million for the high-end children’s fashion line Janie and Jack and its online business and leases to its stores, as well as other assets including customer data, according to the document filed in U.S. Bankruptcy Court in Richmond, Virginia.. . . more