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Gymboree Will Be Revived in Early 2020, Months After Company Went Bankrupt

People walk by the children's clothing retailer Gymboree, which has filed for bankruptcy protection on June 13, 2017 in New York City. (Credit: Spencer Platt/Getty Images)

NEW YORK, NY - JUNE 13: People walk by the children's clothing retailer Gymboree, which has filed for bankruptcy protection on June 13, 2017 in New York City. As retailers across the country continue to struggle, Gymboree said it plans to remain in business but will close 375 to 450Êof its 1,281 stores while filing for a Chapter 11 bankruptcy reorganization. (Photo by Spencer Platt/Getty Images)

Gymboree is being revived just several months after it went bankrupt.

Former rival retailer The Children’s Place announced Tuesday that it’s bringing back Gymboree as a website and as “shop-in-shop” locations at more than 200 of its stores early next year. The company promises that the revitalized brand will return to its “classic roots of playful, bow-to-toe offerings that celebrate childhood.”

Children’s Place spent $76 million acquiring the failed brand in March following its bankruptcy. Gap spent $35 million buying Gymboree’s more upscale Janie and Jack brand, which still exists as an online store.

Gymboree’s reboot will be more digitally focused than its predecessor. There will be a new app, free shipping and the ability to order from both stores within the same shopping cart. It will also have a new loyalty program.

Gymboree filed for bankruptcy in January for the second time in two years, citing unexpectedly difficult conditions in the brick-and-mortar retail industry. That resulted in the closure of more than 800 stores. It first filed for bankruptcy in June 2017, but emerged fairly quickly.

The reboot faces stiff competition from online retailers and even Target. The latter is having success with its private label line for kids, called Cat & Jack. Since its 2016 launch, the brand has reached $2 billion in sales in a little more than a year.

Children’s Place shares jumped nearly 3% on the news. But the stock is down 14% for the year.

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