Jersey Shore & Jackson Premium Outlet Stores Closing
There will soon be a space vacant at Jersey Shore Premium Outlets in Tinton Falls and Jackson Premium Outlets.
According to the Wall Street Journal:
Children’s clothing retailer Gymboree Group Inc. is expected to seek bankruptcy protection this week, with plans to close all 900 of its stores, according to people familiar with the matter.
That means Gymboree Outlets at Jersey Shore Premium Outlets, and Jackson Premium Outlets will be closing their doors. The Gymboree inside Ocean County Mall will also turn off the lights.
In 2017, Gymboree closed 380 of its 1,280 stores in a "company restructuring" with hopes of exiting Chapter 11 bankruptcy. It's unclear what ultimately lead to the company's demise, but one would assume the huge shift to online shopping hurt Gymboree.
Fortune reached out to Gymboree Group for comment and did not get an official comment, therefore there is no exact timetable for the closing of the Gymboree locations. Fortune did make a good distinction:
If Gymboree Group does file for bankruptcy, the closures will not impact Gymboree Play and Music, the children’s classes division of the company that has operated as a separate entity owned by Gymboree Global Education Group since 2016.