The Walt Disney Company has acquired the Disney Store chain in North America from subsidiaries of The Children’s Place Retail Stores Inc. As a result of the transaction, which consisted of an asset purchase by Disney’s subsidiaries through the bankruptcy and insolvency proceedings of Hoop Retail Stores LLC in Delaware and Hoop Canada Inc. in Canada, Disney acquired approximately 220 Disney Stores in the United States and Canada, with actual number of acquired stores dependent upon the outcome of negotiations with landlords. Disney also obtained the right to conduct an orderly wind-down and closure of approximately 98 Disney Stores in the United States and two Disney Stores in Canada, but without assuming the leases for such stores.
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