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Tuesday, June 13, 2017

Gymboree files for Chapter 11 bankruptcy; CFO leaves retailer

Gymboree has filed for Chapter 11 bankruptcy protection.

The children's clothing retailer announced the move Monday morning, only a few weeks after it partnered with a turnaround firm, AlixPartners, to assist with its operations and then missed a June 1 debt payment.

A bankruptcy filing had been seen as imminent, with S&P Global lowering its corporate credit rating on the company to "D" from "CC."

San Francisco-based Gymboree also announced Monday the departure of Chief Financial Officer Andrew North, who is leaving for personal reasons.



Anonymous said...

nice clothes but extremely overpriced. who would pay 40 bucks for a shirt you kid will probably only wear once.

Anonymous said...

No surprise here. The birthrates and paychecks of the targeted socioeconomic class are both shrinking.