Popular childrens clothing chain headed for bankruptcy and closing all stores

Grab those onesies while you can — a popular children’s chain is rumored to be going bust.The Children’s Place — a New Jersey-based retailer selling apparel and accessories for kids of all ages — is allegedly preparing to file for bankruptcy.The move could mean massive closures for the 57-year-old chain.As of today, the brand has roughly 525 locations across the US, Canada and Puerto Rico with Texas at the highest spot, coming in at 58 stores.Bloomberg recently reported that The Children’s Place Inc.

is weighing its options — and will either seek a sale that may keep the business functioning or do a deal that would result in liquidation.The report revealed that bankruptcy may come as early as next week.The Post reached out to the company for information but has not heard back.Like many retailers over the last six years, the once-popular kid’s store faced a brutal wave of shutters.

The mall staple closed 300 stores back in 2020 and 2021, as foot traffic fell and debt grew.To date, shares have dropped to almost 90% as its debt grew.The company also had a massive drop in revenue — down nearly 19% from last year — raking in $241.8 million in three months that ended on Aug.

1.The Children’s Place currently has over 30 locations across New York — third-largest state by store count behind Texas and California.If the company goes bust, New Yorkers could lose the following stores:ManhattanBronxBrooklynQueens & Staten IslandLong Island & Westchester...