Is Gymboree Private Equity Owned?

🟡 FORMERLY PE OWNED

Gymboree

Includes Gymboree Group, Crazy 8

children's clothing · San Francisco, CA

Year Acquired

2010

“Bain bought it for $1.8 billion, bankrupted it twice in under two years, and liquidated 900 stores selling kids' clothes.”

What Happened

•Bain Capital bought Gymboree in 2010 for $1.8 billion — two-thirds of it was debt loaded directly onto the company, leaving Gymboree with $1.2 billion to service
•First bankruptcy in June 2017 closed 330 stores and wiped out $900 million in debt — but the damage was already done
•Second bankruptcy in January 2019, less than 16 months later — this time with full liquidation of all remaining Gymboree and Crazy 8 stores
•The Children's Place bought the Gymboree brand name for $76 million — but not the stores, not the inventory, not the jobs

The Damage Done

▸All 900+ Gymboree and Crazy 8 stores liquidated — parents lost an affordable children's clothing option that had been around for decades
▸Gift cards became worthless overnight in both bankruptcies — customers who'd bought them as presents for kids were out of luck
▸Janie and Jack, the upscale sister brand, was sold to Gap — severed from the company Bain had bought as a package
▸Thousands of retail workers — many of them part-time parents working flexible hours — lost their jobs with minimal notice

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Frequently Asked Questions

Is Gymboree owned by private equity?

Not anymore. Gymboree was formerly owned by Bain Capital starting in 2010, but the firm has since exited. The effects of PE ownership often linger.

What happened to Gymboree after the acquisition?

All 900+ Gymboree and Crazy 8 stores liquidated — parents lost an affordable children's clothing option that had been around for decades Gift cards became worthless overnight in both bankruptcies — customers who'd bought them as presents for kids were out of luck

Who owns Gymboree?

Gymboree is owned by Bain Capital, which acquired it in 2010.