July 31, 2019 / 2:02 PM / 2 months ago

Bankrupt retailer Gymboree in deal to give headquarters lease to Juul

Juul Labs is in line to take over Gymboree Group’s headquarters in a deal in which the bankrupt children’s clothing retailer hands over the lease for its nearly 80,000-square-feet of office space in San Francisco to the e-cigarette maker, as part of its push to raise funds for its creditors.

Lawyers at Kutak Rock and Milbank representing Gymboree said in a Monday filing in U.S. Bankruptcy Court in Richmond, Virginia that the retailer wants to assign the lease, which runs through mid-July of 2022, because it no longer needs the office space for its remaining employees as it winds down.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/315Eaz6

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