As Gap Inc. plans to separate from its Old Navy brand, the mall-based retail chain is looking to add a bankrupt children’s clothing retailer to its portfolio, the WSJ Pro Bankruptcy reported. Gap is in discussions to acquire Gymboree Group Inc.’s Janie and Jack stores and brand. Janie and Jack is Gymboree’s high-end brand that has outperformed its parent. In addition to purchasing Janie and Jack’s brand and inventory, Gap is also looking to buy the brand’s stores as well as the intellectual property, brands and websites related to Gymboree. Gymboree, which filed for bankruptcy in January, currently operates more than 900 stores, including 102 stores and 45 outlets under the Janie and Jack banner. The remainder of the stores are being liquidated. In total, Gymboree employs about 10,100 people.
