The Children’s Place Closing 300 Stores – Here’s When Liquidation Sales Begin
If you love The Children’s Place, then don’t miss this June 2020 breaking news. Because, your favorite kids clothes stores could be closing according several sources. Even if yours isn’t on the current List of Children’s Place Stores Closing, that doesn’t mean it may not be in the near future.
In short, it appears that The Children’s Place is closing mainly its stores in malls across the nation. Of course, liquidation sales will be coming within the next 6 weeks.
You may recall Gymboree closing all stores after filling bankruptcy, and TCP buying the brand and making it online-only.
Is TCP Closing?
According to TCP, 95% of its stores are still temporarily shut down with the Coronavirus COVID-19 Pandemic; however, the retailer plans to reopen about 350 stores on June 16. And, will have all open by July 1.
About 200 locations are scheduled to permanently shut down by the end of the fiscal year, and another 100 units are anticipated to shutter in the 2021 fiscal year. In other words, 100 stores will be closing in the next 6 weeks, another 100 will close by the end of 2020, and finally 100 will close in 2021.
The specialty retail kid’s clothing chain currently has about 920 stores, with 62% of them in malls. They expect that number to drop to a total of 625 stores by next year’s end.
The Children’s Place Closing in Malls?
During its first-quarter earnings call, the company announced plans to permanently close many of its mall-based outposts over the next 20 months.
COVID Retail Apocalypse
This news comes on the heels ofretail giants such as J.C. Penney declared bankruptcy and plans to close 200 stores, And, Victoria’s Secret and Bath & Body Works announced they were closing 300 stores. Gordmans bankruptcy and store closings. Tuesday Morning stores declare bankruptcy. And, of course, Pier One Imports closing all of their stores. Shortly after Neiman Marcus, another department store giant, declared Chapter 11 bankruptcy amid the coronavirus pandemic.
The List of The Children’s Place Locations Closing
The Full List of Children’s Place Stores Closing has not yet been made public; however, we will update as soon as it’s available.
The Children’s Place is the largest pure-play children’s specialty apparel retailer in North America. The Company designs, contracts to manufacture, sells at retail and wholesale, and licenses to sell fashionable, high-quality merchandise predominantly at value prices, primarily under the proprietary “The Children’s Place”, “Place”, “Baby Place,” and “Gymboree” brand names. As of May 2, 2020, the Company had 920 stores in the United States, Canada and Puerto Rico, online stores at www.childrensplace.com and www.gymboree.com, and the Company’s eight international franchise partners in 19 countries had 266 international points of distribution
Don’t miss another freebie! Get Instant Freebie Alerts here! Find the Newest Freebies posted here! Then, JOIN all of our FB Groups!
Sources: Footwear News, The Children’s Place