The Children's Place Closing 300 Stores

PITTSBURGH, PA — 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 Pittsburgh-area stores could close. The chain has western Pennsylvania locations in:

• The Waterfront, Homestead.

• Waterworks Mall.

• South Hills Village.

• The Mall at Robinson.

• Monroeville Mall.

• Tanger Outlets, Washington.

• Beaver Valley Mall.