San Francisco-based clothing company Gymboree is officially shutting its doors for good. According to a report, the company is planning to file for Chapter 11 bankruptcy this week. [1] (Gymboree also filed for bankruptcy back in June of 2017.) So far, Gymboree has closed 400 of its 900 stores in the US. Although it's believed the brand will shut all of its locations for good, reports indicate it hopes to sell off its high-end line Janie & Jack. And while the clothing stores are set to close, most Gymboree Play & Music locations — which were sold to another owner in 2016 — will remain open. As for all those gift cards you've been hoarding for your kids? Use them ASAP!