New York (CNN Business) It's the end of the line for Gymboree.

The children's clothing retailer filed for bankruptcy for the second time in less than two years late Wednesday. This bankruptcy will bring about the end of its flagship brand.

Gymboree Group said it plans to start closing all of its Gymboree and Crazy 8 branded stores, according to the filing. That's about 800 stores.

"The Company has worked diligently in recent months to explore options for Gymboree Group and its brands, and we are saddened and highly disappointed that we must move ahead with a wind-down of the Gymboree and Crazy 8 businesses," said Shaz Kahng, who was tapped as CEO just this past November.

The company's Janie and Jack stores, a more upscale brand, are expected to be sold through bankruptcy court auction next month. A unit of Goldman Sachs has already agreed to be a bidder.

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