The Children's Place is the latest retailer to suffer economic problems in the wake of the coronavirus pandemic.
According to PEOPLE, the news was released after the company's financial losses were reported. The Children's Place has lost over 38% of its business in the first quarter of 2020 due to the pandemic.
As a result, approximately 200 stores will close in 2020 and another 100 by the end of 2021.
The Children's Place offered parents an affordable place to shop for their kids clothes, ranging from infants to teens.
The company has said that they will continue to compete in the digital market space and maintain a positive outlook for the future.
