Gymboree Corp. plans to close 350 of its children’s clothing stores across the U.S. as it continues to restructure, including one as Montgomery County.
As part of the restructuring, the store inside Lakeforest Mall in Gaithersburg will shutter, the company announced Wednesday.
“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, with greater financial flexibility to invest in our future,” Daniel Griesemer, president and CEO, said in a statement.
The national closings will be mainly in its Gymboree and Crazy 8 brands, the retailer announced Tuesday. Gymboree Corp. also operates the Janie and Jack brand. In all, Gymboree operates 19 stores in Greater Washington under the names Gymboree, Gymboree Outlet, Janie and Jack and Crazy 8.
San Francisco-based Gymboree filed for bankruptcy in June. Kirkland & Ellis LLP was handling the Gymboree bankruptcy case, which was filed…Read the full story from the Washington Business Journal.