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Jan 17 (Reuters) - Children's clothing retailer Gymboree Group Inc filed for Chapter 11 bankruptcy protection, the second time in almost two years, and said on Wednesday it will close more than ...
Gymboree said it intends to shut its Crazy 8 store locations and cut the number of Gymboree store locations in 2019.
Gymboree stores offered coordinating children's clothing. The sizes ranged from newborn to size ten. As of January 2019, it operated 380 Gymboree stores, 154 Gymboree outlets, 147 Janie & Jack stores, 253 Crazy 8 stores, and 11 Crazy 8 outlets in the U.S. and Canada. [2] Gymboree store at the Scarborough Town Centre in Toronto in 2008
Gymboree first announced in the summer of 2017 that it would close 375 to 450 stores, and subsequently announced in January 2019 that it would be shutting down all Gymboree and Crazy 8 stores after its second bankruptcy filing in two years. [140] [141] Its more upscale Janie and Jack business was sold to Gap. [142]
Closeout (sale) A closeout or clearance sale (also called a closing down sale in the United Kingdom [ 1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy. [ 2]
Gymboree said it intends to shut its Crazy 8 store locations and cut the number of Gymboree store locations in 2019.
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