The Gymboree Corporation File For Bankruptcy
You may have read in the news that The Gymboree Corporation, which sells children’s clothing, is filing for bankruptcy. We wanted to let you know, it’s business as usual at Gymboree Play & Music Centres across the UK, which is totally independent of the retail company.
Below is a statement from our Global President:
Dear Gymboree Play & Music friends,
I want to take a moment to introduce myself. I am the Global CEO and President of Gymboree Play & Music and a longtime member of the Gymboree community, as my son and daughter have loved our classes for years.
You may have read in the news that The Gymboree Corporation, which sells children’s clothing, is filing for bankruptcy. I wanted to let you know that Gymboree Play & Music is totally independent from the retail company and their unfortunate news has no impact on our business. Gymboree Play & Music is a financially healthy, standalone, privately-held company. Our classes and locations are all open and it is business as usual for our franchisees, partners and families.
In an effort to dispel any concerns or confusion, as unfortunately some members of the media are including us in their stories about the retail company filing Chapter 11, I wanted to take a moment to answer some of the questions we’re hearing from our Play & Music families, business partners and vendors.
1. Is my local Gymboree Play & Music shutting down?
No. We will be offering play classes for your children for many years to come. Gymboree Play & Music is a totally separate company from The Gymboree Corporation and their clothing stores. We have more than 730 Play & Music centers worldwide and, in fact, we are opening new locations around the world every month.
2. Can my child keep coming to classes?
Absolutely! It’s business as usual for us, and, more importantly, play as usual for your children. Our commitment to play and early childhood education is stronger than ever and we love the time we get to spend watching your children flourish in our classes.
3. Are there any scheduling or class changes I need to know about?
If there are any scheduling questions, please ask your local Play & Music business manager directly, as classes and hours are coordinated at each location. We are offering two NEW programs — PlayLab and BabyLab, which are now enrolling in many of our locations.
4. Can I still buy monthly memberships, 10-Class-Passes and more?
Yes. We look forward to having your family in our community for years to come. Any special promotions or packages can be discussed with your local Play & Music manager.
5. Is Gymboree Play & Music a stable company worth doing business with now?
Yes. We are not experiencing any financial strain. Our franchisees are great tenants and our programs are growing every day.
6. Wasn’t there a time when you actually were owned by The Gymboree Corporation?
Yes — in fact, Gymboree was founded more than 40 years ago as a play-education community. Then the company entered into children’s retail as well, and operated clothing stores alongside play centers. In July 2016, Gymboree Play & Music was acquired by ZEAVION Holding, a privately-held company focusing on education. We are now are a standalone, privately-held company run by experienced Play & Music leaders, franchisees and play enthusiasts worldwide who are building on our 40 year legacy.
I’m proud to say Gymboree Play & Music will be here inspiring parents and kids to play together for many years to come. Thank you for being part of our ever-growing community of the people who care about giving their children the very best.
Sincerely,
Dr. Zhenyu Zhang
Global CEO and President
Gymboree Play & Music
