Gymboree to close 350 stores
July 11, 2017
• Part of a restructuring for the retailer
• Just one Central Valley store affected
Gymboree Corporation says it intends to close approximately 350 stores nationally, mainly across the Gymboree and Crazy 8 brands, as part of a court-approved restructuring.
It says that with a smaller store base, it will be able to focus resources on locations with the greatest potential and improve the profitability of the overall business.
Just one of the company’s Central Valley stores is to be closed: a Crazy 8 store in the Chico Mall.
Its other stores in the Central Valley are to remain open: Sacramento; Roseville; Folsom (Gymboree Outlet and a separate Gymboree store); Stockton; Modesto; Fresno; Visalia; Tulare (Gymboree Outlet); Bakersfield; and Arvin (Gymboree Outlet).
"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," says Daniel Griesemer, president and CEO. "This was a difficult decision to make, but we are confident that it is in the best long-term interest of our company, our customers and our broader employee base."
In order to ensure a seamless experience for customers, the company has partnered with Great American Group and Tiger Group to help manage the closing sales in its Gymboree, Gymboree Outlet and Crazy 8 stores. The closing sales at affected stores are scheduled to begin on Tuesday, July 18.
Prior to filing for Chapter 11 bankruptcy reorganization, the company had a total of 1,281 retail stores: 582 Gymboree stores (532 in the United States, 49 in Canada and 1 in Puerto Rico); 172 Gymboree Outlet stores (171 in the United States and 1 in Puerto Rico); 149 Janie and Jack shops (148 in the United States and 1 in Puerto Rico); and 378 Crazy 8 stores in the United States.