Gymboree To Shutter 265 Crazy 8 Stores, Begin Strategic Review Under New CEO

Gymboree has initiated a strategic review of its brands, which will include closing its 265 Crazy 8 locations and shuttering some of its 380 Gymboree stores in 2019. Additionally, the company has named Shaz Kahng as Gymboree Group CEO.

The plans could ultimately include a sale or other transactions at the brand level, but all Gymboree, Janie and Jack and Crazy 8 stores will remain open and operational through the holiday season. The retailer did not set a timetable for the process.

Gymboree emerged from Chapter 11 bankruptcy in October 2017, when it came under the shared ownership…