Children's Place has filed for bankruptcy but hopes some stores remain
Children's Place has filed for bankruptcy but hopes some stores remain
Jim Martin, Erie Times-NewsWed, November 11, 2026 at 6:03 PM UTC
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The Children's Place, a presence at the Millcreek Mall since 1998, appears to be making plans to turn off the lights.
Signs outside the retailer, located in the Boscov's concourse next to Gracylane, announce 30% to 60% off and a headline on the company website says: "All stores closing."
But the 57-year-old New Jersey company, which filed for Chapter 11 bankruptcy protection on Nov. 8, seems to be leaving itself some wiggle room.
Chapter 11 bankruptcy provides the company with an opportunity to reorganize. The retailer, which operates more than 500 stores, hopes to do just that.
The company said it hopes to substantially sell all of its assets "to secure the highest or otherwise best bid, with the goal of continuing the business."
There's no guarantee that will happen.
Management of the publicly traded company said: "While the Company pursues a buyer through the chapter 11 process, it must prepare for the possibility that a sale to continue the business cannot be achieved."
The bottom line is simply unclear.
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According to its statement: "The Children’s Place has been evaluating its operational footprint to invest its resources in its strongest locations moving forward. The Company has determined that certain store closures will be necessary during the chapter 11 process."
Joe Bell, a spokesman for the Youngstown-based Cafaro Co., which owns the Millcreek Mall, said he doesn't have much information.
"Our people haven't heard anything," he said. "I think they are looking for a buyer to scoop them up. That is our best guess. We would like to see the business continue in some fashion. That is really not up to us."
September moves: What's new, what's coming, what else is changing at Millcreek Mall
For now, all Children's Place locations, including the one at the Millcreek Mall, remain open, according to the company.
Children's Place second-quarter sales were down 18% compared to the same quarter in 2025.
Contact Jim Martin at jmartin3@usatodayco.com.
This article originally appeared on Erie Times-News: Children's Place has filed for bankruptcy but hopes some stores remain
Source: “AOL Money”
