THE Children’s Place has further reduced its footprint, closing another location in a key market.
The store’s main branch at Atlantic Terminal Mall in Brooklyn, New York, is permanently closed.
The move is part of a larger effort to close 100 stores.
CEO Jane Effers said on a conference call earlier this year that the retailer expects most of its closures to come next year.
The Children’s Place has struggled to adapt to a changing retail environment full of e-commerce competitors.
The company has closed 315 stores since 2019.
The Children’s Place had an estimated 600 stores left before downsizing began earlier this year.
Another nearby location on Fulton Street also recently closed, leaving Brooklyn parents with fewer and fewer options to choose from.
problems in retail
The Children’s Place is one of many once-dominant businesses that have endured tough times in recent years.
Kmart, which once had 2,000 stores nationwide, will close its last New Jersey store on September 30.
The retailer filed for bankruptcy along with its parent store Sears in 2018 and has since lost locations.
After this closure, only two Kmarts remain.
One is located on Long Island in New York and the other is in Miami, Florida.
Meanwhile, another bankrupt retailer is attempting one last comeback.
Bed Bath & Beyond filed for bankruptcy earlier this year.
Retailer and sister store BuyBuyBaby also had to close for good this summer before being acquired by Overstock.com.
Now 11 Bed Bath & Beyond locations are reopening and the downfall is on hold.
A niche party shop is also trying to survive bankruptcy.
Party City is closing locations nationwide to cut costs and keep business running.
A large drugstore chain has also recently reduced staff.
The virus of store closures has also gripped its main competitor.