Gymboree is officially closing for good.
According to a report, the company is planning to file for Chapter 11 bankruptcy this week. They also filed for bankruptcy back in June of 2017.
So far, Gymboree has closed 400 of its 900 stores in the U.S., but it's believed the brand will shut all of its locations for good and they hope to sell off its high-end line Janie & Jack.
But good news for parents, most Gymboree Play & Music locations, which were sold to another owner in 2016, will remain open.
So if you have any Gymboree gift cards you got for Christmas, you better head to a store and start shopping!