Bankrupt Gymboree Group Inc. won court approval of its $3.6 million settlement with its former employees, overcoming the Justice Department’s objection.
The children’s clothing retailer, which has changed its corporate name to Gemstone Solutions Group Inc., expects to file its liquidation plan “in the coming days,” its lawyer, Michael Price of Milbank LLP, said at a Sept. 16 hearing.
A group of employees sued Gymboree under the Worker Adjustment and Retraining Notification Act after the company fired them without the required 60-days advance notice. The company began shuttering its stores immediately after filing Chapter 11 in January.
The employees will ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.