200+ Children’s Place Stores Closing: Save BIG at Liquidation Sales
If you have children, chances are you’ve shopped at The Children’s Place…
But there’s some not-so-great news for the children’s clothing stores. Read below to find out how (& when) you can find bargains at their stores.
The Children’s Place recently announced they will be closing multiple stores across the country – over 200 to be exact.
200 stores will be closing in this calendar year. Then, an additional 100 stores are planned to be close throughout 2021. Most closures will be stores within different malls across the country
Why Are They Closing So Many Stores?
In some reports, the chain was planning to close multiple stores before the world shut down a couple months ago.
According to the President & CEO, Jane Elfers, “this initiative will greatly reduce our reliance on our brick-and-mortar channel and we are targeting our mall-based, brick-and-mortar portfolio to represent less than 25% of our revenue entering fiscal 2022.”
They are looking to focus on e-commerce, which means you can still shop online. But, your local Children’s Place store may be closing.
However, they “anticipate that the lingering impact of COVID-19 will continue to accelerate the shift to digital, putting enormous pressure on the already-stressed brick and mortar channel, resulting in accelerated store closures.” This means there could be additional store closings in the future.
What Does This Mean for Us?
The children’s chain currently has less than 1,000 stores across the US – around 920 different locations. With the closing of so many stores, there will be HUGE liquidation sales happening around the country.
While they haven’t announced which locations will be closing in 2020 and 2021, there are multiple Children’s Place stores in KC malls, so we are guessing at least one will close.
Liquidation Sales Start in 6 Weeks – Keep Your Eyes Out
We do our best to keep updated on the current events for children & families, but keep your eyes out for announcements about closures. Their CFO, Mike Scarpa announced liquidation sales will begin at 50 stores at the end of July.
“We expect that a good portion of them will open and liquidate and then will close, depending on the inventories that are left in the store,” Scarpa said.
Nearly All Liquidation Sales will Begin in July.
If you’re looking for Back to School clothes, or your little ones are growing fast, be sure to stop by these sales. You can find great bargains on quality clothing. You may even want to consider buying clothing a few sizes bigger if you have little ones – they grow so fast!
We hope you find some deals! (You can also check out their clearance section if you can’t make it to the sales)
From our family to yours, iFamilyKC