Gymboree to Close 350 Stores in Bankruptcy Restructuring

Gymboree Corp. plans to close 350 stores as it restructures in bankruptcy, the company said earlier this week. Store closing sales are scheduled to begin on July 18, and most of the stores targeted for closure are Gymboree and Crazy 8 locations. The children’s apparel retailer will have more than 900 locations after the 350 stores are shut down. "With the right size store base, the company will be able to focus resources on locations with the greatest potential and improve the profitability of the overall business," Gymboree said in a statement.

Total Retail’s Take: Gymboree filed for bankruptcy in June, and at that time said it may close as many as 450 stores. The goal is finding a “right size store base” that would allow the company to focus its resourses on the locations with the greatest potential to improve the profitability of the overall business. Gymboree joins a growing list of retailers filing for bankruptcy and closing stores in 2017.