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The Children’s Place Commences Process to Effectuate Value-Maximizing Sale Transaction

PLCE
  • The Children's Place, Inc. voluntarily filed for Chapter 11 bankruptcy relief in the U.S. Bankruptcy Court for the District of New Jersey.
  • The Company is pursuing a court-supervised sale of substantially all assets under Section 363 of the U.S. Bankruptcy Code to continue operations as a going concern.
  • Bids for the sale must be submitted by December 9, 2026, with the process expected to conclude by the end of December 2026.
  • All stores & e-commerce sites remain open & are offering deep discounts on outfits while enhancing liquidity through ongoing inventory sales.
  • The Company plans to enter a new term loan facility with existing secured lenders to fund restructuring & go-forward operations.
  • A consulting agreement was signed with a joint venture of GA Group, Tiger Group, & SB360 Capital Partners to facilitate ongoing inventory sales.
  • The Company is seeking court approval for "first-day" motions to pay employee wages, maintain customer programs, & pay vendors for post-petition services.
  • The Company is seeking recognition of its U.S. Chapter 11 proceedings in Canada to include Canadian assets in the sale process.
  • White & Case LLP serves as legal counsel, while BRG, Cascadia Capital, Cole Schotz P.C., Omni Agent Solutions, & C Street Advisory Group serve as financial, investment, local, claims, & communications advisors respectively.
  • The Company operates as a pure-play children's specialty retailer in North America with an omni-channel presence & sells under the "The Children's Place" & "Gymboree" brands.