The $1.8bn buyout of US children's wear retailer Gymboree Corporation by private equity firm Bain Capital will go ahead after the company failed to receive any competing offers.

A 40-day "go-shop" period ended on Saturday night, but failed to generate any new enquiries, "despite a broad solicitation of potentially interested parties," the company said.

Asset management firm Bain Capital in October offered $65.40 per share for Gymboree, which operates 1,049 Gymboree, Gymboree Outlet, Janie and Jack and Crazy 8 stores. The deal is likely to close by the end of the year.