Children's retailer Gymboree announced on Tuesday plans to close 350 Gymboree, Crazy 8 and Janie and Jack locations this summer as the company has filed for Chapter 11.
For the Gymboree and Crazy 8 locations that are closing, those stores will begin having liquidation sales on July 18. Janie and Jack stores that are closing will not have a liquidation sale.
According to Gymboree, the company operates a total of 1,281 retail locations: 582 Gymboree stores, 172 Gymboree Outlet stores, 149 Janie and Jack stores and 378 Crazy 8 stores.
“Today’s announcement represents the next step in the Company’s court-supervised financial restructuring as we work to more strongly position the business for long-term growth and success,” said Daniel Griesemer, President and CEO of Gymboree. “Right-sizing our store footprint is a central part of our efforts to ensure Gymboree emerges from this restructuring process as a stronger and more competitive organization, with greater financial flexibility to invest in our future.
"Importantly, we will continue to operate a majority of our stores and will continue to deliver quality merchandise and superior service to our customers at our Gymboree, Janie and Jack and Crazy 8 brands."