Gymboree heads toward bankruptcy

|By:, SA News Editor

Gymboree plans to file for bankrupcty, according to a Bloomberg report.

The privately-owned retailer is struggling under a mountain of debt amid a streak of unprofitable years.

The Children's Place (PLCE +1.5%) spiked off the Gymboree news, while there was a more moderate reaction with Carter's (CRI +0.4%). Both stocks were in negative territory earlier in the day.