The Gymboree Corporation has emerged from Chapter 11 bankruptcy as new entity Gymboree Group.

The company has completed financial restructuring and a court-approved plan of reorganisation is in place, which has improved its financial position and established a sustainable capital structure by reducing its debt by more than $900m from its balance sheet.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In addition, the company also reduced its store footprint as part of the reorganisation exercise.

Gymboree Group president and CEO Daniel Griesemer said: "Today marks a new beginning for Gymboree Group as we emerge as a stronger and more agile competitor in the children's apparel market.

"[The company has] reduced its debt by more than $900m from its balance sheet."

"With the support of our new equity owners, this process has allowed us to secure the company's long-term financial health, and we are excited about the opportunities ahead as we turn our full focus toward executing our strategic product, brand and omni-channel initiatives.”

In addition to an $85m new term loan from Goldman Sachs, the company has secured access to a $200m revolving credit facility from Bank of America Merrill Lynch and Citizens.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company will operate under new owners, comprising Searchlight, Apollo Global Management, Oppenheimerfunds, Brigade Capital Management, Marblegate, Nomura Securities International and Tricadia Capital Management, which also served as pre-petition term loan lenders.