Gymboree Files Chapter 11 Plan
On June 11, 2017, the Gymboree Corporation ("Gymboree") filed for protection under chapter 11 of the Bankruptcy Code as the retailer struggled to reorganize its debt. Gymboree 's bankruptcy petition indicated that it has 1,000 to 5,000 creditors, assets estimated at $756 million, and liabilities estimated at $1.36 billion. On June 16, 2017, Gymboree filed its Joint Chapter 11 Plan of Reorganization and its Disclosure Statement, less than one week after filing for bankruptcy protection. The Plan proposes no distribution...
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