Great American, Tiger, Hilco, Gordon Bros. to Lead Gymboree Liquidation

Great American Group, Tiger Capital Group, Hilco Merchant Resources and Gordon Brothers will lead the liquidation of all Gymboree and Crazy 8 stores in the U.S. and Canada in the wake of Gymboree’s bankruptcy filing.

Gymboree Declares Bankruptcy, Receives DIP Financing from Goldman Sachs

Children’s specialty retailer Gymboree filed for Chapter 11 and entered an asset purchase agreement with Special Situations Investing Group. Goldman Sachs Specialty Lending and SSIG agreed to provide $30 million in DIP financing to support proceedings.

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.