Children’s Retailer with Iowa Locations Reportedly Shutting Down
For the second time in two years, children's apparel chain Gymboree is filing for bankruptcy. The retailer has Eastern Iowa locations remaining at Coral Ridge Mall in Coralville and Tanger Outlet Center in Williamsburg, according to their website.
Fortune Magazine, via the Wall Street Journal, says the company's first bankruptcy and restructuring came in 2017, when it closed 380 of its over 1200 stores nationwide. It had one at Lindale Mall in Cedar Rapids that is now closed.
Gymboree is one of numerous chain retailers to have financial difficulties in recent years, including Sears, Younkers, Payless Shoe Source, Toys R Us and others. Meanwhile, retailers remaining in business such as Target, Kohl's and Amazon are revamping and upgrading their own focus on sales of children's apparel and items, leaving mall stores in the dust.
It will now reportedly close all 900 remaining stores including Williamsburg and Coral Ridge.
More info on the bankruptcy of Gymboree can be found in the article from Fortune.
[Via Fortune Magazine]