HURRY IN BEFORE THEY CLOSE . AMAZING DEALS
Gymboree Group has begun winding down operations for the majority of its store portfolio.
The bankrupt retailer has begun store closing sales at its 798 Gymboree and Crazy 8 locations throughout the United States and Canada. Gift cards can be redeemed until February 16, 2019.
Gymboree filed for bankruptcy protection on January 19, and said it would shutter all its namesake and Crazy 8 stores. It is pursuing a sale for its higher-end, 139-store Janie and Jack brand, and also for Gymboree’s intellectual property and online platform.
The store-closing sales are being operated by a consortium of asset disposition firms including Great American Group, LLC, Tiger Capital Group, Hilco Merchant Resources and Gordon Brothers.
“This store closing sale event offers customers an opportunity to buy the most essential children’s clothing items and accessories for a great price. We encourage loyal shoppers and parents to visit their nearest Gymboree and Crazy 8 stores to take advantage of these deals before merchandise sells out,” said a representative of the consortium.
The firms leading the store liquidation process will work quickly to sell through all inventory across 749 Gymboree and Crazy 8 store locations in the U.S. and 49 Gymboree locations in Canada. Sales at individual Gymboree and Crazy 8 retail and outlet locations will continue until all merchandise is sold, which the firms anticipate will be quickly.
CEO SAYS : We have weathered many ups and downs over our company’s history, and today’s changing retail environment has proven to be our greatest challenge. That is what makes it so painful to share the news with you about where our company stands today.
When I was asked to step in as CEO of Gymboree Group in November 2018, we initiated a thorough review of our operations. Unfortunately, we have made the gut-wrenching decision to voluntarily file for Chapter 11 protection in the U.S. Bankruptcy Court for the Eastern District of Virginia and for Gymboree, Inc. to commence proceedings under the Bankruptcy Insolvency Act in Canada. We will wind-down our Gymboree, Gymboree Outlet and Crazy 8 businesses and close those stores. At the same time, we are focused on using this process to preserve Janie and Jack by pursuing a sale of the business, with the hope that it will continue to serve customers for many years to come. At the same time, we are focused on using this process to preserve Janie and Jack by pursuing a sale of the business, with the hope that it will continue to serve customers for many years to come.
This is a heartbreaking outcome for our many dedicated employees and our treasured customers with whom we have built many strong relationships over the past four decades. While our Gymboree, Gymboree Outlet and Crazy 8 stores and websites will be closing soon, we will remain focused on ensuring we continue to deliver the exceptional service you have come to expect from us.
I want to personally thank our employees who have made this company more than a source of a paycheck, but a source of pride. I want to thank you, our customer, for your support, loyalty, patience, and for all the positive memories you have shared with us along the way.
Shaz Kahng Long-time customer, Mom, and Gymboree Group CEO