What is the future of retail in Fairview Heights?
Gymboree Inc. is expected to file for bankruptcy and could close all remaining stores as soon as this week, according to a report from the Wall Street Journal published Sunday.
If legal proceedings move forward, this will be the company’s second time filing for bankruptcy in the last two years.
Gymboree filed for bankruptcy in June 2017 and closed 350 of the company’s stores, mainly across its Gymboree and Crazy 8 brands, in the United States and Canada.
About 900 stores remain, including a Crazy 8 location at St. Clair Square in Fairview Heights.
The company, founded in 1976, also operates two other brands, including Crazy 8 and Janie and Jack. All brands would close amid bankruptcy plans.
If Crazy 8 closes, it will join a long list of merchants affected by the “retail apocalypse” in Fairview Heights. The Sears at St. Clair Square is set to close in March, the store’s parent company confirmed Dec. 28.