Gymboree Corp. is looking to close a number of its stores as part of a broader business restructuring under bankruptcy court protection, according to people familiar with the matter.
The children’s clothing retailer has reached out to firms known for liquidating companies’ inventories and other assets to help with the closure of up to 350 of its stores, the people added.
Discussions surrounding the number of store closures are still ongoing, however, and could change by the time Gymboree seeks bankruptcy protection, they add.
Gymboree operated about 1,300 stores, which includes Gymboree-branded outlet stores, Janie and Jack and Crazy 8 stores as of July 2016, according to a filing with the Securities and Exchange Commission.
Gymboree would look to close these locations as part of a bankruptcy filing, which could come as soon as next week, some of the people added.
A spokeswoman for Gymboree private-equity backer Bain Capital declined to comment on the matter. The company didn’t immediately respond to a request for comment.
Gymboree currently has 15 Denver area locations under its various brand…