USA: Gymboree Corporation to Sell Zutopia Unit
The Gymboree Corporation has announced that it has agreed in principle to sell of its Zutopia stores division to The Wet Seal Inc. The deal to sell the young girls clothing division is subject to the completion of a definitive agreement on certain conditions being met, including the transfer of the leases to Wet Seal Inc. If all goes to plan then the transfer should take place by April 7, 2001.
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