Children's clothing retailer closing two Greater Cincinnati stores

A national children's clothing retailer plans to close 350 stores, including two of its five stores in the Tri-State, as it restructures in bankruptcy, the company said.

Gymboree, based in San Francisco, said it will begin closing sales on Tuesday. The chain is closing 11 stores in Ohio, including two in Greater Cincinnati at Tri-County Mall and Florence Mall. Area stores continuing to do business are at Kenwood Towne Center, Deerfield Towne Center and Cincinnati Premium Outlets in Monroe.

Gymboree filed for bankruptcy protection in June, saying it might close as many as 450 of its 1,281 stores nationwide. The goal, it said, is a "right size store base." The company would be able to focus resources on locations with the greatest potential and improve the profitability of the overall business.

Gymboree employs more than 11,000 people, including 10,500 hourly workers. The bankruptcy was widely expected after Gymboree refused to pay some of its bills in recent months, placing the retailer on a collision course with creditors. The retailer said in its filing last week that it hopes to slash $1 billion of its $1.4 billion in debt and to win approval for its plan by Sept. 24.

Gymboree joins a growing list of retailers to announce the closing of some stores as mall traffic declines and competition from online retailers such as Amazon intensifies.

Gymboree News and Press Releases

This article has been read 2293 times.

Would you like to own a Gymboree Franchise?

For more information about becoming a Gymboree Franchise owner, including a franchise overview, start-up costs, fees, training and more, please visit our Gymboree Franchise Information page.