The owner of three chains that sell maternity clothing could be heading for bankruptcy, according to published reports.
Destination Maternity, which operates stores under the Motherhood Maternity, Pea in the Pod and Destination Maternity names, has been struggling amid increased competition. It also has a large debtload, Chicago TV station WMAQ reports.
The company has hired an advisor to evaluate options. One likely scenario would be to find a buyer after filing for bankruptcy. If a buyer doesn't emerge, WMAQ says it's possible all 458 stores could close for good. That would leave more than 3,000 full- and part-time employees jobless.
In addition to its own stores, Destination Maternity also sells its clothing at Macy's and BuyBuy Baby.
In fiscal 2018, the company reported it lost $14.3 million.