The Gymboree store at Evansville’s Eastland Mall will soon be one of the 350 stores closing as part of the company’s financial restructuring process. Three additional Gymboree locations and one Crazy 8 store will close across the state.
The children’s clothing company announced the closures Tuesday as part of a general financial restructuring plan. The company also filed for Chapter 11 bankruptcy.
CEO Daniel Griesemer said in a news release that the decision was a difficult one, but that it would be better for the company over the long-run. “We will continue to operate a majority of our stores and will continue to deliver quality merchandise and superior service to our customers,” he said.
The Gymboree Corporation owns 1,281 stores across the U.S. and Canada under the Gymboree, Janie and Jack, and Crazy 8 brands. Most of the stores closing are Gymboree or Crazy 8 locations.