Saturday, November 18, 2017
Business

Shrinking kids apparel chain Gymboree closing 350 stores, including two in Tampa Bay

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Children's clothing retailer Gymboree plans to close 350 stores nationwide — including two in the Tampa Bay area — as it restructures in bankruptcy, the company says.

Fourteen Florida stores will close, including Gymboree locations in West Shore Plaza in Tampa and the Shops at Wiregrass in Wesley Chapel, according to the company. Based in San Francisco, Gymboree filed for bankruptcy protection in June, saying it might close as many as 450 stores. The goal, it said, is a "right size store base." Closures begin July 18.

Gymboree stores at the malls at Westfield Brandon and Citrus Park will remain open.

Prior to bankruptcy, the company had been saddled with $1 billion in debt stemming from its buyout by Bain Capital in 2010, and made the Chapter 11 filing to restructure that debt.

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