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WSJ: Gymboree Shops for Bankruptcy Financing, Prepares for Second Chapter 11 Filing

December 20, 2018, 08:08 AM
Filed Under: Retail
Related: Chapter 11, gymboree

The Wall Street Journal reported that retailer Gymboree Group Inc. is shopping for a bankruptcy loan as it prepares for a second Chapter 11 filing in less than two years, according to people familiar with the situation.

According to the WSJ report, the company is seeking a bankruptcy loan that would give it the opportunity to keep some of its stores open while it searches for a buyer, and Gymboree would likely close a majority of its 900 stores. The company is hoping to keep more than 100 stores - its Janie & Jack outlets - to put up for sale.

Read the full WSJ report here (subscription required).

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