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Gymboree expected to file bankruptcy, close all stores

Gymboree is expected to file bankruptcy this week and close most of its more than 900 stores, according to a report in the Wall Street Journal citing sources familiar with the situation.

Gymboree has locations at Boulevard Mall and Fashion Outlets of Niagara Falls USA. Its Walden Galleria location closed. There is a Janie and Jack store at Fashion Outlets of Niagara Falls USA. All Crazy 8 stores in the Western New York market have already closed.

The portfolio includes 380 Gymboree branded locations, plus 164 Gymboree Outlets, 139 Janie and Jack and 265 Crazy 8 stores.

The company is trying to sell its higher-end Janie and Jack brand, news reports said.

The children's clothing retailer filed bankruptcy in June 2017. It emerged successfully with $900 million less in debt. It had entered with $1 billion in debt, mostly from its leveraged buyout by Bain Capital in 2010. It also closed about 375 stores at the time.

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