Gymboree Files For Bankruptcy

According to a filing, because of reasons such as consumers moving more to online outlets, along with other internals reasons, Gymboree has filed for bankruptcy.

Over a three month period, the store suffered a $324 million net loss, making it another casualty of large retailers on hard times as shopping trends shift.

The company has nearly 1,300 store, and a consultant has suggested closing around 375 of them as they work on restructuring. However, there have been no announcements of any stores actually closing.

Full story here.

More from Paul Laux

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