The Children’s Place has announced plans to close 300 stores nationwide over the next two years after losses tied to the COVID-19 pandemic. The company also sites it’s desire to move away from brick and mortar stores since e-commerce has been on the rise.
Around 200 stores are expected to be closed by the end of 2020. Another 100 are set to close in 2021.
Mike Scarpa, who is The Children’s Place’s chief financial officer and chief operating officer, says the company will hold liquidation sales at 50 locations within the next six weeks.