SC Gymboree stores to shut down, closing sales to start next week

SC Gymboree stores to shut down, closing sales to start next week

It also operates Janie and Jack stores.

"Right-sizing our store footprint is a central part of our efforts to ensure Gymboree emerges from this restructuring process as a stronger and more competitive organization", he added.

After this round of store closings, it will still have a handful of Gymboree stores in the area at Ridgedale Center, Twin Cities Premium Outlets, Albertville Premium Outlets, and in Woodbury. Gymboree's Janie and Jack brand is closing seven stores, although none are in North Carolina.

The list of Gymboree stores closing as part of the company's bankruptcy is out and Upstate New York is getting hit hard. One of the stores set to close is the Gymboree store at SouthPointe Pavilions mall at 27th Street and Pine Lake Road.

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Numerous national retailers have abandoned ShoppingTown in recent years. Gymboree employs more than 11,000 people.

As people shop online more, traditional retailers such as Gymboree and shopping malls in general have been hit hard. The retailer said in its filing late Sunday that it hopes to slash $1 billion of its $1.4 billion in debt and to win approval for its plan by late September.

As David Silverman, senior director for retail coverage at Fitch Ratings, told Retail Dive in an earlier interview, Gymboree's various store lines have essentially been cannibalizing each other while competitors such as Carters and The Children's Place have been outpacing the company in growth. The company opened its first store in 1986 and now has stores across the USA and overseas.

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