It is unclear at this time how Gap will use Janie and Jack after news last week that the namesake company is splitting from Old Navy to operate as two separate publicly traded comapanies. Gap will take Banana Republic and Athleta.
»RELATED: Skip the line at small cofee shops with this app, developed by local men
Gymboree filed for bankruptcy in January with plans to sell the Janie and Jack brand and close Gymboree and Crazy 8 stores.
The Children’s Place will pay $76 million for the rights to Gymboree and Crazy 8 brands and assume a contract with Zeavion Holding Co., which acquired Gymboree’s Play and Music business in 2016.
Both sales must still be approved by a bankruptcy court judge. The hearing is expected to take place today.
FIVE FAST READS
• Ohio dairies closing amid four years of near record lows milk prices
• Gap to close 230 stores, split from Old Navy
• Victoria’s Secret closing more than 50 stores
• Luxury apartments, townhouses, carriage homes coming to Huber Heights
About the Author