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Gymboree Sells Brand to Children’s Place, Line to Gap

Janie and Jack clothing line will expand Gap’s children’s offerings



Following a Chapter 11 bankruptcy filing in January, Gymboree Group Inc. (San Francisco) has sold the rights to its brand, along with its Crazy 8 brand, to The Children’s Place (Secaucus, N.J.). Additionally, it has sold its Janie and Jack clothing line to Gap Inc. (San Francisco).

According to USA Today, The Children’s Place will pay $76 million for Gymboree and Crazy 8, inheriting a contract with Zeavion Holding Co. Gap Inc. will pay $35 million for Janie and Jack, including its online business and leases to its stores, plus other assets like customer data. The transactions still must be approved by bankruptcy court.

When it filed for bankruptcy, Gymboree said it would close 800 of its stores in the U.S. and Canada.



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