Retailers are going bankrupt at a record pace.
While the chain hopes to keep operating, Gymboree became the latest retailer to declare bankruptcy in 2017. That keeps the year on pace to tie or break 2009's record, when 18 chains filed for bankruptcy protection, according to CNBC.
The children's-clothing retailer was one of 22 retailers rated "Caa" or lower by Moody's. That's not a guarantee a chain will fail -- J.C. Penney came back from that level -- but it's decidedly a dicey place to be.
"When you're down there in Ca-land, bankruptcy is a real possibility," said senior Moody's retail analyst Charles O'Shea, USA Today reported. The 22 companies on the Moody's list, including Gymobree, represent 16% of the total retail market covered by the credit-rating service.
"The majority of retailers remain fundamentally healthy," O'Shea added. That's good news, but many, or even all, of the following chains run a serious risk of not surviving the year without a bankruptcy filing.
The lifestyle apparel brand may need a lifeline: