On January 17, 2019, after years of financial problems, Gymboree filed for Chapter 11 bankruptcy, and announcing the closure of all Gymboree, Gymboree Outlet, Crazy 8, and Crazy 8 Outlet stores as a result. The company also sold its Janie and Jack brand to Gap Inc.
Despite the retail Gymboree stores shutting down, Gymboree Play & Music stayed open as it separated from the main Gymboree company in 2016, meaning that it wasn't affected by the Gymboree Group's closure.
On June 24, 2019, Gymboree's remaining assets were sold to The Children's Place, who later announced that Gymboree would relaunch as an online retailer and would also feature a store-within-a-store concept at The Children's Place stores. The relaunch occurred in February 2020.
