Children's Place Is Latest PA Retailer To Close Stores

The Children's Place plans to shutter 300 stores over the next 20 months as part of a plan to dramatically reduce its presence in shopping malls across the country. The kids clothing retailer made the announcement in a conference call transcribed by The Motley Fool.

The company said it has "significantly increased" its store closings plan because the coronavirus outbreak has significantly increased online order demand.

According to the transcript, some stores that have been temporarily closed will hold liquidation sales, depending on inventory, while others will remain closed. The Children's Place currently is holding an online sale with items up to 80 percent off.

It's unclear how many, if any, of The Children's Place Philadelphia-area stores could close. The chain has locations at several area malls, including Willow Grove, Neshaminy, Oxford Valley, and more.

The Children's Place is one of many chain retailers that will close stores during the coronavirus pandemic. JCPenney announced last month it is closing more than 240 stores. Other chains that have planned store closures include Victoria's Secret, Pier 1, and Bed Bath & Beyond.

With reporting by Patch correspondent Eric Heyl