Reports: Gymboree expected to file for bankruptcy, close 900 stores

People walk by the children's clothing retailer Gymboree, which will reportedly file for bankruptcy protection.
Caption
People walk by the children's clothing retailer Gymboree, which will reportedly file for bankruptcy protection.

Credit: Spencer Platt

Credit: Spencer Platt

Gymboree is expected to close all 900 stores under its various brands as part of filing for bankruptcy this week, according to reports.

The Wall Street Journal reported the news Sunday, citing unnamed sources familiar with the matter.

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One person told CNBC that Gymboree Group, which operates stores under Gymboree, Janie and Jack and Crazy 8 brands, is trying to sell its high-end brand, Janie and Jack. That brand has about 139 stores, the person said.

The CNBC source asked to remain anonymous as the information is confidential.

The bankruptcy would be its second in recent years. Gymboree announced a bankruptcy filing  in 2017, in which it said it would close up to 450 of its stores as it reorganized. At the time, the San Francisco-based company had 1,281 stores.

Gymboree has not commented on the latest bankruptcy reports.

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