Gymboree closing 350 stores after filing for bankruptcy

Markets Associated Press

Children's clothing seller Gymboree Corp. is closing 350 stores as its works to restructure in bankruptcy.

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The San Francisco-based company said Tuesday that it's mostly closing Gymboree and Crazy 8 stores. It also operates Janie and Jack stores. The company will have more than 900 locations after the stores are shut down.

Gymboree filed for bankruptcy protection in June. Traditional retailers have been struggling to deal with strong competition from online companies and slowing mall traffic.

The closing sales at affected stores are scheduled to begin next Tuesday.