Gymboree considers closing hundreds of stores

Gymboree Group is reportedly considering a major downsize that would cut its store count in half.

The children's clothing retailer currently has about 900 stores. Unnamed sources close to the situation told Reuters the company hired a consulting firm to evaluate options for the downsize.

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Gymboree was one of the few retailers that entered bankruptcy and was able to escape without liquidating. Several other companies like Bon-Ton, Sears and Toys “R” Us have filed for bankruptcy and closed thousands of stores as consumers continued to shift sales online.

After a June 2017 bankruptcy filing, the company closed a quarter of its stores. It also decreased debt by $1 billion to get out of bankruptcy by September 2017.

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Gymboree Group operates Gymboree, Crazy 8 and Janie and Jack brands.

There are Gymboree stores at The Greene Town Center, Kenwood Towne Centre, Cincinnati Premium Outlets and Deerfield Town Center. Crazy 8 has locations at the Mall at Fairfield Commons and Dayton Mall.

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Holly Shively