Company Children's Place to exit Disney Store

[j1sy]

I have only worked for the disneystore while under hoop. but i am looking forward to the changes coming with disney.

[Tom Morrow]

Disney officially takes over Disney Stores

Disney takes over Disney Stores Walt Disney Co. acquires its namesake chain of stores from Children's Place and says it will close about 98 stores CNN Money Walt Disney Co. said Thursday it has taken over the Disney Store chain in North America from Children's Place Retail Stores, and will close about 98 stores U.S. and two in Canada. Specific financial terms weren't disclosed, but Secaucus, N.J.-based Children's Place said it will cost the company $50 million to exit the operations, at the bottom of its estimated range of $50 million to $100 million. Walt Disney acquired about 220 Disney Stores in the U.S. and Canada. The deal was completed in conjunction with the bankruptcy proceedings of Children's Place subsidiaries Hoop Retail Stores and Hoop Canada, which ran the Disney Store chain. The companies filed for Chapter 11 protection in March. Children's Place will provide transitional support services to Disney for up to six months. After the deal closes, Children's Place said Hoop will continue with its bankruptcy and anticipates filing a plan of reorganization by the end of 2008. complete article

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[j1sy]

i see only positive out of this change. i am excited, i am glad to be a disney castmember!