Hundreds of Gymboree stores could be closed as the kids clothing chain plans for bankruptcy.
The report comes from the Wall Street Journal, but has been picked up by other outlets. According to Consumerist, the closing list hasn't been finalized yet, but as many as 350 stores could be shut down.
That would be about one-quarter of the company's 1,300-plus stores in North America (which includes two other brands). The 350 figure could change between now and when the company files for bankruptcy protection. A report from Dow Jones Newswires says the company is likely to make those filings next week.
Gymboree, based in San Francisco, started in 1976 and has clothes for infants and young children.
There are currently six stores in the Twin Cities area, plus one in Duluth, one in St. Cloud, and one in Fargo. Here's the store locator.
Once again, a big retailer runs into money trouble
Gymboree is the latest large retailer to face likely or definite store closures. Others include: