Gymboree Restructures

Children's wear retailer Gymboree (San Francisco) has completed financial restructuring after coming out of bankruptcy.

As a new corporation with a new name, Gymboree Group Inc. has eliminated more than $900 million of debt, according to a press release.

"Today marks a new beginning for Gymboree Group as we emerge as a stronger and more agile competitor in the children's apparel market," said Daniel Griesemer, president and ceo. "With the support of our new equity owners, this process has allowed us to secure the company's long-term financial health, and we are excited about the opportunities ahead as we turn our full focus toward executing our strategic product, brand and omnichannel initiatives.”