Gymboree to Close Casper, Cheyenne Stores Following Bankruptcy

Gymboree to shutter about 350 stores

Gymboree Corporation announced on Tuesday that it has filed Chapter 11 bankruptcy, and plans to close 350 stores, mostly Gymboree and insane 8 locations. Seven of the locations are in Colorado.

Based in San Francisco, the company said closing sales began Tuesday in the stores.

Department stores making similar significant store closing announcements include Dillard's, J.C. Penney, Macy's and Sears.

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When filing for Chapter 11 bankruptcy protection last month, Gymboree said it planned to continue operating the majority of its stores while restructuring and cutting its debt by more than $900 million. Those locations include Janie and Jack stores as well as insane 8 shops.

There will still be several Gymboree stores in the area, including those at the Premium Outlet malls, Waterford Lakes and Florida Mall.

Analysts have expected, and insiders have hinted, that Gymboree would likely target its insane 8 and Gymboree brands as it looks to shrink its store footprint.

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Many local shopping malls are going to have to grapple with the loss of one more retailer: Gymboree.

The Gymboree Corp. announced Tuesday, July 11, that it will close about 350 stores, including its Gymboree store in West Acres, after a "comprehensive evaluation of its retail footprint". The goal, it said, is a "right size store base".

The chain has suffered thanks to declining mall traffic, online competition and fixed rent costs.

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