Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
New call-to-action
California  + Retail  | 

Gymboree Files Bankruptcy, Closing up to 450 Stores

San Francisco-based Gymboree filed for Chapter 11 bankruptcy protection, and plans to close up to 450 stores in an effort to trim costs. The children’s clothing retailer plans to remain in business while it reorganizes, and hopes to secure approval of that plan later this fall.

The reorganization will focus on right-sizing Gymboree’s store footprint, and providing it greater financial flexibility, say company executives. The retailer has 1,281 stores and employs more than 11,000 people, though it did not identify which stores would be closing.

The filing was not unexpected after Gymboree quit paying some of its bills in recent months. The company is seeking to cut $1 billion of its $1.4 billion in debt.

Collectively, Simon Property Group and GGP control 35% of Gymboree’s U.S. real estate space.

For comments, questions or concerns, please contact Dennis Kaiser

Connect

Inside The Story

Read more at USA Today

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

New call-to-action
New call-to-action
New call-to-action
New call-to-action
New call-to-action