Tuesday, January 31, 2023

This store at the Premium Outlets is running on borrowed time

The Gymboree Group has filed for bankruptcy and now all locations across the country, including at the Premium Outlets, will be closing.

The Williamsburg Premium Outlets is home to both a Gymboree Outlet store and a Janie and Jack, branches of the Gymboree Group.

Children’s clothing retailer, Gymboree Group, announced last week they are filing for bankruptcy and plan to close all of their Gymboree, Gymboree Outlet and Crazy 8 businesses.

“We have weathered many ups and downs over our company’s history, and today’s changing retail environment has proven to be our greatest challenge,” said Shaz Kahng, the company’s CEO, on their website.

On Jan. 16, the San Francisco-based company filed for chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Eastern District of Virginia, according to a news release from the company.

However, Kahng said the business will now be focused on preserving Janie and Jack stores by selling the business to Special Situations Investing Group, Inc.

SSIG is an affiliate of Goldman Sachs & Co. and has committed to providing $30 million in new loans which will help the company during bankruptcy court proceedings.

During that time, the company will close all 900 locations of Gymboree stores.

The Gymboree Group did not immediately respond for comment as to when the Premium Outlet location will be closing and how the move will impact the Janie and Jack location at the same shopping center.

Alexa Doiron
Alexa Doironhttp://wydaily.com
Alexa Doiron is a multimedia reporter for WYDaily. She graduated from Roanoke College and is currently working on a master’s degree in English at Virginia Commonwealth University. Alexa was born and raised in Williamsburg and enjoys writing stories about local flair. She began her career in journalism at the Warhill High School newspaper and, eight years later, still loves it. After working as a news editor in Blacksburg, Va., Alexa missed Williamsburg and decided to come back home. In her free time, she enjoys reading Jane Austen and playing with her puppy, Poe. Alexa can be reached at alexa@localvoicemedia.com.

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