Gymboree

Gymboree Group, Inc.
Private
Industry Retail
Founded 1976 (1976)
Headquarters 71 Stevenson St. #2200
San Francisco, California, U.S.
Number of locations
 Gymboree: 629
Gymboree Outlet: 139
Janie and Jack: 119
Crazy 8: 220 (January 2010)[1]
Key people
 Dan Griesemer (President and CEO)
Products Children's clothes & Toys
Revenue Increase US$1.247 billion (FY 2016)[2]
Increase US$ -10.17 million (FY 2016)
Total assets Decrease US$1.156 billion (FY 2016)
Number of employees
 9,500 (4,300 full-time equivalents)[3]
Website www.gymboree.com
Gymboree headquarters
500 Howard Street
San Francisco, CA

Gymboree Group, Inc. is an American, San Francisco-based corporation that operates a chain of over 1,200 specialty retail stores of children's apparel in the United States, Puerto Rico and Canada. Bain Capital acquired the company in 2010. Gymboree filed for bankruptcy in June 2017 and reemerged from bankruptcy in September 2017. The company is now owned by a group of its original lenders.[4]

History

Retail stores

In 1986, the company opened a chain of clothing stores named Gymboree. Gymboree stores offer coordinating children's clothing. The sizes range from newborn to size ten. Gymboree, in its current incarnation (it has reorganized several times) is incorporated under the Gym-Mark, Inc nameplate. It currently operates 630 Gymboree Retail, 150 Gymboree Outlet, 130 Janie & Jack, and 290 Crazy 8 stores in the US.

A Gymboree store at Scarborough Town Centre in Ontario.

Crazy 8 was started in August 2007. It features lower priced clothing and is Gymboree's direct competitor for The Children's Place and Old Navy.

In June 2017, Gymboree announced it was filing for Chapter 11 bankruptcy protection. As part of the debt management process, it said it would close 375 of its 1,300 stores.[5]

Play & Music Centers (no longer owned by Gymboree)

Gymboree Play & Music, Putney Exchange, London, England

In July 2016, The Gymboree Corporation sold the Gymboree Play & Music business to Zeavion Holding, a privately held company with a focus on the education and entertainment sectors. Gymboree Play & Music is now completely separate from the Gymboree Corporation and is operating parent-child play classes for ages 0-5. Play & Music operates in over 40 countries and has more than 733 centers internationally.[6]

Lawsuits

In November, 2005, Gymboree settled a lawsuit relating to overtime compensation in Riverside, California for $2.3 million. The lawsuit alleged that Gymboree did not pay some mandatory overtime or provide required meal breaks.[7]

References

  1. ↑ "Gymboree Corp" (PDF). Files.shareholder.com. Retrieved 2016-04-03.
  2. ↑ "Gymboree - Financial Report - Annual Revenue - Stock". Privco.com. Retrieved 2 April 2016.
  3. ↑ "2006 Form 10-K". Archived from the original on July 5, 2009. Retrieved December 21, 2007.
  4. ↑ Newswires, Dow Jones. "Gymboree files for bankruptcy, will close 375 stores in chapter 11 restructuring – The Denver Post". Retrieved 2017-06-12.
  5. ↑ Fu, Lisa. "Gymboree Will Close More Than 375 Stores After Filing for Bankruptcy". Fortune. Retrieved 2017-06-12.
  6. ↑ Corporation, The Gymboree. "Gymboree Agrees To Sell Play & Music Business To ZEAVION". www.prnewswire.com. Retrieved 3 January 2018.
  7. ↑ "Gymboree settles overtime suit for $2.3M". San Francisco Business Times. 21 November 2005. Retrieved 3 April 2012.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.