FORT WAYNE, Ind. (WPTA21) – The push to clear shelves at children’s stores Gymboree and Crazy 8 has begun, with the chains discounting products up to 50 percent.
No closing date has been announced, but the Gymboree location at Jefferson Pointe and Crazy 8 at Glenbrook Square will be among the hundreds of stores shut down in the coming weeks.
The parent company for both has filed for bankruptcy.
The San Francisco company said late Wednesday that it will close all of its Gymboree and Crazy 8 stores and attempt sell its Janie and Jack business, intellectual property and online business.
“The company has worked diligently in recent months to explore options for Gymboree Group and its brands, and we are saddened and highly disappointed that we must move ahead with a wind-down of the Gymboree and Crazy 8 businesses,” CEO Shaz Kahng said in a prepared statement.
The company has suffered in the post-recession years like almost all mall-based retail stores. Steep declines in mall traffic and the shift online have devastated many traditional retailers.