Children’s Place files for bankruptcy protection, seeks buyer

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Children's clothing retailer The Children's Place has filed for chapter 11 bankruptcy protection, it said Sunday. The company is looking to sell substantially all of its assets and is seeking offers from potential buyers by Dec. 9, with a goal to close a deal by the end of December. The retailer, whose brands include The Children's Place and Gymboree, says it operates two digital storefronts and 514 North American stores, and has distribution in 13 countries through franchise and wholesale partners. The company's performance has taken a hit in recent years from tariff hikes and slower consumer spending, among other factors.