CHERRY VALLEY, Ill. (WIFR) -- Gymboree could soon file for bankruptcy for the second time in three years.
The children's clothing store chain expects to file for Chapter 11 bankruptcy as soon as this week. According to a CBS report, Gymboree could close all 900 stores nationally.
Locally, the Stateline has one Gymboree location at CherryVale Mall. 23 News reached out to a mall representative for comment. We have not confirmed any future plans for the location, but we will update if more information becomes available.
Gymboree last filed for bankruptcy in 2017 when it tried to deal with more than $1 billion in debt left over from a buyout by Bain Capital Partners. The retailer closed around 350 locations as a result of bankruptcy in 2017.