Retailer Gymboree files for bankruptcy to restructure nearly $1 billion in debt
Retailer Gymboree files for bankruptcy to restructure nearly $1 billion in debt
Children’s clothing chain Gymboree announced Sunday it’s filing for Chapter 11 bankruptcy. The retailer will close about 400 of its 1,300 stores and restructure debt in a bid to stay alive. Gymboree views its troubles as part of the larger challenges facing the retail industry as customers move their business online, but some of its competitors are staying ahead of the trouble.
Click the audio player above to hear the full story.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
