The Children’s Place, Inc. and certain of its subsidiaries filed voluntary petitions under Chapter 11 on November 8, 2026, in the US Bankruptcy Court for the District of New Jersey, in proceedings captioned In re The Children’s Place, Inc., et al., Case No. 26-22682 (SLM), the company disclosed in a Form 8-K filed on Monday. Joint administration has been requested, no trustee or receiver has been appointed, and the debtors remain in possession of their assets under the court’s supervision.
The filing was an event of default under the company’s debt instruments, accelerating substantially all of its debt. As of the petition date the company had approximately $394 million in aggregate outstanding obligations under those instruments, plus accrued interest and fees, spanning its Wells Fargo asset-based credit agreement, a term credit agreement with Crystal Financial LLC d/b/a SLR Credit Solutions as agent, and unsecured subordinated promissory notes held by Mithaq Capital SPC. Enforcement is subject to the automatic stay. The company also disclosed that the term agent had purported to accelerate the term loan on November 7 over alleged defaults, an acceleration whose validity the company disputes.
The debtors intend to run a competitive marketing and sale process for substantially all of their assets, including operational assets and intellectual property, under section 363 of the Bankruptcy Code, with the stated goal of continuing the business as a going concern. The company is requesting bids by December 9, 2026, and expects to complete the court-supervised sale process by the end of December 2026. It also expects to seek approval of senior secured superpriority debtor-in-possession financing and/or use of cash collateral, which remains subject to negotiation, documentation and court approval, and it is seeking recognition of the US cases in Canada’s Ontario Superior Court of Justice (Commercial List) so Canadian assets and operations are included in the sale.
Stores and e-commerce sites remain open. Under a consulting agreement dated November 3, 2026 with Tiger Capital Group, LLC, SB360 Capital Partners, LLC and GA Retail Solutions, LLC, inventory and store-closing sales run from November 6, 2026 through February 28, 2027 across US and Canadian stores, distribution centers and the e-commerce platform, for a base fee of 2.5% of gross proceeds on merchandise and a 15% commission on furniture, fixtures and equipment, against a consultant expense budget of $34,132,000. The company has filed customary first-day motions covering wages and benefits, critical vendors, insurance, taxes and customer programs.