Major children’s clothing retailer files for Chapter 11, plans to close up to 450 stores

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The hits keep coming for the nation’s most prominent mall retailers. San Francisco-based children’s clothing retailer Gymboree Corp. announced late June 11 it had filed for Chapter 11 bankruptcy. The company plans to close some stores, but at this time it expects to “otherwise manage its day-to-day operations as usual.” Media reports indicate Gymboree plans to close 375 to 450 stores, but the company says it’s still deciding which locations will close. Gymboree operates 29 stores in the Houston…