Gymboree files for bankruptcy protection to reduce debt
Gymboree files for bankruptcy protection to reduce debt WASHINGTON (AP) — Children's clothing seller Gymboree Corp. has filed for Chapter 11 bankruptcy protection, the latest sign of traditional retailers' struggles as shoppers shun stores and buy online. The San Francisco-based company said it is seeking to reduce its debt load by $900 million, and it expects to operate its business and majority of its 1,300 stores during the restructuring.