The Children’s Place To Close 300 Stores
The Children's Place, which has a store in the Bangor Mall, announced it will permanently close 300 of its stores in the next 20 months.
The Children's Place, a clothing store, has three locations in Maine -- one at the Bangor Mall, one at the Maine Mall in South Portland and an outlet store in Kittery. All of the Maine stores currently are temporarily closed in response to the coronavirus pandemic.
There's no word yet on whether any of the Maine stores will close permanently.
"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,” reads a news release.
The Children’s Place currently has 920 locations, about 800 of which are in the United States.