Gymboree Group Inc. (San Francisco) may be preparing to file for bankruptcy.
According to Chain Store Age, the retailer is reportedly seeking a bankruptcy loan in preparation for a Chapter 11 bankruptcy filing. The retailer previously filed for and emerged from bankruptcy in 2017.
According to the report referenced, if the bankruptcy proceeds, it is expected that the retailer will close “a majority” of its 900 brick-and-mortar stores and try to sell about 100 other stores in its line-up, which could also include its Janie & Jack brand.
This follows news earlier this month that the company was undergoing a strategic review.