Is Gymboree preparing to file for bankruptcy?

Gymboree Corp., the struggling children’s clothing retailer, is preparing to file for bankruptcy as it faces a June 1 interest payment on its debt, according to people with knowledge of the matter. The Bain Capital-controlled company is seeking to reorganize its debt load and may transfer control to its lenders, including Searchlight Capital and Brigade Capital Management, said the people, who asked not to be identified because the process isn’t public. Representatives for Bain, Gymboree, Brigad...

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