Gymboree to close two of its area stores
NORMAN — A federal judge has signed off on Gymboree Corp.’s reorganization plan, and the company that sells children’s clothing, games and toys is closing hundreds of stores, including two that are local.
In Oklahoma, Gymboree has announced it will close the Gymboree Play & Music at Norman’s Sooner Fashion Mall, 3433 W Main.
Gymboree also is closing its Crazy 8 store at the Shops at Moore, 2350 S Interstate 35 Service Road.
Two other Gymboree locations at Penn Square Mall and at OKC Outlets are not on the list of closings posted on the company’s website. The timing of when the shops in Norman and Moore will close could be impacted by their locations and how well their closeout sales are going, a spokesperson said.
Oklahoma, like most states, recently has been hit by rounds of closures involving retailers who have sold both variety and specialized products. Payless, for example, closed a significant number of its stores including some here, and also filed for bankruptcy.
Closings haven’t been limited to national retail stores, either.
One local retailer who also sells products for infants and their moms said a number of locally owned businesses that sold children’s clothing and games also recently
have closed.
Morgan Harris, who owns the Green Bambino, said she understands the difficulties Gymboree continues to face as it tries to revive its business.
"And it isn't just a challenge for the clothing retailers. It spreads throughout the baby industry," Harris said. "We've been seeing this going on for a couple of years, and in the last six months, a lot of stores, both locally and nationally, have decided they just can't hang on any longer."
Harris said two key factors are driving the trend.
She said the rise of online shopping is squeezing middle-tier retailers.
"You've got luxury brands on one end, and Mom and Pop shops on the other. And those two extremes give people a reason to get out of their homes and off their phones.
"But the retailers in the middle, the department stores in malls, the Gymborees of the world, don't necessarily give people a compelling reason to get out of the house and come see them."
Another factor, Harris said, is that today's young adults don't seem to be putting the same emphasis on acquiring babyrelated stuff as previous generations of new families have done.
"It's not necessarily a thing anymore to buy a fancy crib or a huge assortment of clothing," she said, "plus, we've had a fundamental shift in how consumers look at retail goods.
"I am not sure any of us have the answer, but what's happened is stunning. If you don't give a customer a compelling reason to come into your store, they'll just buy online."
The Green Bambino, at 5120 N Shartel, sells various eco-friendly products for babies and their moms that include bedding, blankets, teething and feeding products, baby carriers, car seats, travel items, diapers, diaper bags, clothing and toys.
She said it remains competitive because it's found a market niche consumers desire, which is providing organic and environmentally-sound products.
Gymboree officials said in a Wednesday news release that they expect to complete a financial restructuring process and to emerge from Chapter 11 by the end of the month. The plan recapitalizes the company by eliminating more than $900 million in debt.
Officials said the debt elimination and their plan to close more than 300 stores across the nation would “right-size” the company’s retail footprint to create a sustainable capital structure and position the business to succeed.