Children's Place to buy Gymboree, Gap absorbs Janie and Jack
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The brick-and-mortar retail shuffle continues as more acquisitions are on their way for a collection of children's clothing companies, including Gymboree, which sold to competitor Children's Place, while Gap Inc. intends to acquire Janie and Jack, the Wall Street Journal reports.
Details: Both transactions will still need to be verified in bankruptcy court. Children's Place is paying $76 million for the rights to Gymboree, its Crazy 8 brand and Singapore-based Zeavion Holding. Meanwhile, Gap's eventful week continues, closing out with the $35 million purchase of Janie and Jack and a secondary acquisition of the chain's inventory out of liquidation.