Goldman Sachs, BofA Support Gymboree Emergence from Chapter 11

Gymboree emerged from Chapter 11 as a new corporation under the name Gymboree Group. Goldman Sachs provided an $85 million term loan, and Bank of America Merrill Lynch and Citizens provided a $200 million revolver to support the restructuring.

Tiger, Great American to Manage Gymboree Store Closings

In conjunctions with its recent Chapter 11 filing and court-ordered restructuring, Gymboree intends to close approximately 350 stores, mainly across the Gymboree and Crazy 8 brands. The company is partnering with Tiger Group and Great American Group to manage the closing sales.

Credit Suisse, BofA Agent DIP for Gymboree Restructuring

Gymboree secured commitments for $35 million in new-money debtor-in-possession financing from a majority of its existing term loan lenders and up to $273.5 million in additional DIP financing from the existing lenders under Gymboree’s asset-backed loan credit facilities.