The Children’s Place, Inc. (Nasdaq: PLCE) has filed voluntary petitions for Chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of New Jersey. The filings were made on November 8, 2026, and the company is seeking to sell substantially all of its assets pursuant to Section 363 of the U.S. Bankruptcy Code. The goal of this process is to maximize value for stakeholders and continue the business as a going concern.
As of the petition date, the company has approximately $394 million in outstanding obligations under its debt instruments, which are now in default and accelerated. These obligations include an Amended and Restated Credit Agreement, a Credit Agreement dated December 16, 2025, and unsecured subordinated promissory notes. The company is seeking court approval to pay employee wages and benefits, maintain customer programs, and pay vendors for goods and services provided post-petition.
To facilitate the sale process, the company has entered into a consulting agreement with Tiger Capital Group, LLC, SB360 Capital Partners, LLC, and GA Retail Solutions, LLC. This agreement, effective from November 6, 2026, through February 28, 2027, is designed to support ongoing inventory sales at U.S. and Canadian stores, distribution centers, and e-commerce platforms. The company has also appointed Kristin Clifford as Chief Operating Officer, Global Sourcing & Product Operations, effective November 4, 2026.
The company intends to file a motion seeking approval of a competitive marketing and sale process. Bids are requested by December 9, 2026, with the expectation that the court-supervised sale process will be completed by the end of December 2026. The company is also seeking recognition of the U.S. chapter 11 proceedings in Canada to include its Canadian assets and operations in the sale process.
