Gymboree Files For Bankruptcy

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

Unfortunately the problems continue for stores in the United States. And it is that we remember that both 2017 and 2018 were very difficult years for many companies that had to declare bankruptcy, while also closing many of their establishments and also leaving many unemployed. Brands like Michael Kors, Sears, and Kmart, among many others, had to ditch many of their stores around the United States, leaving many consumers open-mouthed, all because of poor performance that caused them many losses.

In 2017 alone, 5,000 stores were closed and in 2018 that amount went up. And is that the popularity of virtual stores has done a lot of damage to physical stores. Now Gymboree, one of the favorite children's clothing stores, has filed for bankruptcy and will therefore have to close some 800 locations, which also includes stores from the other Crazy 8 company brand.

With this, the company also announced in a statement that customers who still have a credit from these stores or a gift card only have 30 days to use them. After this they will no longer be valid.

This is the second time that the company has filed for bankruptcy in the past two years. The first time was during the summer of 2017. Apparently that did not help them much and the low sales continued to affect them.

Both the Gymboree website and the Crazy 8 website will continue to offer their products to their customers.