Bankrupt Gymboree Closing Stores, Including 15 In MA

Children's clothing retailer Gymboree is filing for bankruptcy for a second time in three years and will close its remaining 900 stores, according to media reports. That includes 15 locations in Massachusetts.

The affected stores are expected to include:

• Acton (Brookside Shops)
• Auburn (Auburn Mall)
• Braintree (South Shore Plaza)
• Burlington (Burlington Mall)
• Chestnut Hill (The Shops At Chestnut Hill)
• Dedham (Legacy Place)
• Hingham (Derby Street Shops)
• Lynnfield (Market Street)
• Marlborough (Solomon Pond Mall)
• Natick (Natick Mall)
• North Attleboro (Emerald Square Mall)
• Peabody (Northshore Mall)
• Saugus (Square One Mall)
• Somerville (Assembly Row) - Outlet store
• Wrentham (Wrentham Premium Outlets) - Outlet store

Gymboree operates stores under three banners — Gymboree, Janie and Jack, and Crazy 8. Selling off the businesses at the brand level could spare the high-end Janie and Jack brand from liquidation, according to the report.

Like many brick-and-mortar stores, Gymboree has struggled to remain afloat against increased online competition.

The news comes as Sears prepares to learn its fate, news that could come as soon as Monday. Patch will have the latest on that decision later in the day.

The Wall Street Journal cited sources familiar with Gymboree’s plan to sell the operation and said it is expected to liquidate is remaining 900 stores. Selling off the businesses at the brand level could spare the high-end Janie and Jack brand from liquidation, according to the report.

The company first filed for bankruptcy in July 2017 and closed 350 stores. At the time, President and CEO Daniel Griesemer said in a statement that closing those stores would allow the company to “continue to deliver quality merchandise and superior service to our customers.”

Closing those stores allowed Gymboree “greater financial flexibility” as it shed $900 million in debt, Griesemer said.

Though downsized, the company and its brands have stores in 30 states: Arizona, California, Colorado, the District of Columbia, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Maryland, Michigan, Missouri, North Carolina, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and Washington.

Photo: Renee Schiavone / Patch