Giant Kids Retailer in Iowa Closing
After being $1 billion in debt, the children’s store Gymboree is planning to close 350 stores, according to USA Today and several other news outlets.
— CNN (@CNN) July 12, 2017
News like this continues to get less shocking as we’ve already seen several retailers have to close locations. In eastern Iowa alone Gander Mountain, K-Mart, and Payless have shut down stores. Not to mention the 34 other retailers that could be closing this year. Many of which are in our area!
The affected locations in Iowa that will be closing are Davenport and West Des Moines. You can see the full list of impacted locations HERE.
Brick-and-mortar retailers everywhere continue to suffer as mall traffic decreases and online shopping through retailers like Amazon goes up.
The good news is that Gymboree will still have over 900 store fronts after the closings, as they run stores Crazy 8 and Janie and Jack. Also, some retailers could still survive these challenging times.