Disney buys back Disney Store chain

The Walt Disney Co. has closed on its purchase of the Disney Store chain from a subsidiary of The Children's Place Retail Stores Inc. the companies said Thursday.

Terms of the purchase were not disclosed.

Disney now has about 220 Disney Stores in the United States and Canada. The final number of stores is dependent upon negotiations with landlords. Disney also acquired the right to close 98 stores in the United States and two in Canada.

Content Continues Below

Burbank's Disney (NYSE: DIS) first sold the stores to The Children's Placein November 2004. However, Hoop Holdings LLC, the subsidiary over the Disney Store chain, filed for Chapter 11 bankruptcy and Disneyentered into talks to buy back the chain. The Children's Place was not included in the bankruptcy filing.