Disney buys back store stock

Subsidiary of Disney Store North America operator to sell inventory to Walt Disney.
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Hoop Holdings, a unit of Children’s Place Retail Stores, has agreed to sell the inventory at most of its stores in the US and Canada to Walt Disney for up to $65 million.

The deal also calls for Disney to take over at least 180 store leases, keeping on the thousands of Hoop employees.

The agreement is awaiting approval from the US Bankruptcy Court, where Hoops recently filed for Chapter 11 protection.


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