Tuesday, 21 November, 2017

Gymboree to close approximately 350 stores

Spencer Platt Getty Images Spencer Platt Getty Images
Heather Davidson | 13 July, 2017, 01:24

In a release Tuesday, Gymboree Corporation said it would close around 350 of its stores - Gymboree, Janie and Jack and insane 8 - nationwide.

In Southern California, the company will close 11 stores, two in Los Angeles County. Closing sales will begin on July 18.

There will still be several Gymboree stores in the area, including those at the Premium Outlet malls, Waterford Lakes and Florida Mall.

The Gymboree closing list also includes stores in Edina, Burnsville, Eden Prairie, Mankato, Maple Grove and Medford in Minnesota, Rapid City in South Dakota and Glendale, Racine and Oshkosh in Wisconsin. The company will have more than 900 locations after the stores are shut down.

Both of Gymboree's stores in Wyoming are set to close as the San Francisco-based clothing retailer restructures, having filed Chapter 11 bankruptcy last month. All Janie and Jack stores in Arizona will remain open, according to a company website.

West Acres, like many shopping centers across the country, has seen major shifts as stores struggle to keep up with rapidly changing retail and shopping trends.

The chain has suffered thanks to declining mall traffic, online competition and fixed rent costs. The retailer said in its filing late Sunday that it hopes to slash $1 billion of its $1.4 billion in debt and to win approval for its plan by late September.

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