One person told CNBC that Gymboree Group, which operates stores under Gymboree, Janie and Jack and Crazy 8 brands, is trying to sell its high-end brand, Janie and Jack. That brand has about 139 stores, the person said.
The CNBC source asked to remain anonymous as the information is confidential.
The bankruptcy would be its second in recent years. Gymboree announced a bankruptcy filing in 2017, in which it said it would close up to 450 of its stores as it reorganized. At the time, the San Francisco-based company had 1,281 stores.
Gymboree has not commented on the latest bankruptcy reports.
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