SAN FRANCISCO, Ca. (CBS) - San Francisco-based children’s clothing company Gymboree is reportedly preparing to file for Chapter 11 bankruptcy with plans to close all 900 of its retail locations.
The company is expected to file for bankruptcy protection this week.
According to reports, most of Gymboree’s 900 stores are set for closing but the company is hoping to sell its high-end brand, “Janie & Jack.”
Gymboree previously filed for bankruptcy back in June of 2017.
The company has already closed some 400 stores.
Most Gymboree Play & Music classes have remained open. They are separate from the clothing stores.