San Francisco-based Gap makes deal to buy Gymboree's Janie & Jack

SAN FRANCISCO (KGO) -- The children's clothing stores owned by San Francisco-based Gymboree will survive under the ownership of other retailers, including one based in the Bay Area.

According to a bankruptcy document filed Saturday, Gymboree is splitting its assets between The Children's Place and Gap, which is headquartered in San Francisco.

The Children's Place will acquire the Gymboree and Crazy 8 brands, as well as Gymboree's Play & Music studios.

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Old Navy will become its own company while Gap Inc. will retain the iconic Gap brand, Athleta, Banana Republic, Intermix and Hill City.



Gap is getting Gymboree's high end Janie and Jack stores, along with Janie and Jack's online business and store leases.

Gymboree filed for Chapter 11 bankruptcy in January.

The deals still have to be approved by a federal bankruptcy judge.
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