Salem Gymboree Expected To Close Amid Bankruptcy

SALEM, NH — Children's clothing retailer Gymboree plans to close its remaining 900 stores — including the Salem location at The Mall at Rockingham Park — as it proceeds through the bankruptcy process, according to multiple reports Monday. The four other New Hampshire Gymboree locations in Nashua, Merrimack, Tilton and North Conway are also expected to close. Like many brick-and-mortar stores, Gymboree has struggled to remain afloat against increased online competition.

The Wall Street Journal cited sources familiar with Gymboree's plan to sell the operation and said it is expected to liquidate is remaining 900 stores as it files for bankruptcy for a second time. Gymboree operates stores under three banners — Gymboree, Janie and Jack, and Crazy 8. Selling off the businesses at the brand level could spare the high-end Janie and Jack brand from liquidation, according to the report.

The company and its brands have stores in 30 states.

The company first filed for bankruptcy in July 2017 and closed 350 stores. At the time, President and CEO Daniel Griesemer said in a statement that closing those stores would allow the company to "continue to deliver quality merchandise and superior service to our customers."

Closing those stores allowed Gymboree "greater financial flexibility" as it shed $900 million in debt, Griesemer said.

Beth Dalbey, Patch National Staff, contributed to this report

Photo credit: Renee Schiavone/Patch