By  on June 6, 2017
The retailer could be filing its Chapter 11 petition later this month.

Ratings agency Moody’s Investors Service on Monday downgraded the corporate family rating of children’s retailer Gymboree to “Ca” after it failed to make a June 1 interest payment.

The retailer said earlier in the year that it would not be making the payment. Specifically, Gymboree said in March that it was getting short on cash, and financial sources last month said that hadn’t changed.

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