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.
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2 comments:
nice clothes but extremely overpriced. who would pay 40 bucks for a shirt you kid will probably only wear once.
No surprise here. The birthrates and paychecks of the targeted socioeconomic class are both shrinking.
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