Bay area Gymborees closed
Parents who were heading to bay area Gymborees were greeted with a shock today when the doors were closed. Gymboree, the place where parents were urged to take their kids to play and even get their babies moving, has closed its bay area locations after its bankruptcy petition was moved to Chapter 7 liquidation.
The filing lists that Tot-Bot Inc., the corporate owner of several bay area Gymboree franchises, has many creditors who are staking a claim in the liquidation of assets, including the Internal Revenue Service which is seeking nearly $73,000 in back taxes.
Back in March, Tot Bot had filed for Chapter 11 status seeking protection while they restructured the business. But now with the Chapter 7 conversion, the bay area gyms are closed.
-- Sherry Robinson