Financing ·
On July 1, 2026, The Children's Place, Inc. entered into a $15.0 million Shariah-compliant, unsecured, and…
PLCEChildrens Place, Inc.
On July 1, 2026, The Children's Place, Inc. entered into a $15.0 million Shariah-compliant, unsecured, and subordinated promissory note (Third Mithaq Term Loan) from Mithaq Capital SPC, a controlling shareholder. The loan matures on April 16, 2031, with interest at the one-month SOFR plus 9.00% per annum. Proceeds will be used to prepay the company's revolving credit facility, reduce vendor accounts payable, and for general corporate purposes. Additionally, effective July 6, 2026, Muhammad Asif Seemab was appointed President and Interim CEO, succeeding Muhammad Umair, who resigned from those roles but remains on the Board. Mr. Seemab's annual cash compensation remains $497,500. The company operates in the retail industry, specializing in children's apparel.