Popular children’s clothing chain headed for bankruptcy and closing all stores

The Children’s Place is reportedly considering bankruptcy as it weighs a sale or liquidation, a decision that could lead to widespread store closures. The company has not confirmed plans, and the report says a bankruptcy filing could come as early as next week.

The children’s clothing retailer has about 525 locations across the US, Canada and Puerto Rico, including 58 in Texas. It closed 300 stores in 2020 and 2021; its shares have fallen by almost 90%, while revenue dropped nearly 19% year on year to $241.8 million in the three months to 1 August.