# The Children’s Place Opens Asset Sale After Chapter 11 Filing By John Kim Canonical URL: https://www.tokenpost.com/news/business/53379 Published: 2026-11-10T22:54:47.000Z Updated: 2026-11-10T22:54:47.000Z Section: Business > The retailer is seeking offers by Dec. 9 and aims to complete a sale by the end of December. Its stores and e-commerce sites remain open for now. The Children’s Place began an asset sale after filing for Chapter 11 protection Nov. 8, seeking offers by Dec. 9 as it keeps its stores and e-commerce sites open for now. The retailer is seeking bids for substantially all its assets and aims to complete a sale by the end of December. The filing advances the company’s [earlier preparations for bankruptcy protection](). The company operates 514 North American stores and two online storefronts. Its brands include The Children’s Place and Gymboree, with franchise and wholesale partners distributing its products in 13 countries. The company plans to continue inventory sales with court approval. Rudy Morando, the company’s co-chief restructuring officer, said, “We are committed to conducting an efficient and transparent sale process.” The bankruptcy filing lists about $742 million in assets and about $881 million in debt. Net sales in the second fiscal quarter of 2026, the company’s most recently reported quarter, fell nearly 19% from a year earlier. Higher tariffs and slower consumer spending have also weighed on its performance. Interim CEO Muhammad Asif Seemab and Chief Strategy Officer Muhammad Umair left their roles days before the filing and remain on the board. Chief Financial Officer John Szczepanski took over as acting president and principal executive officer. ## Links in this article - [earlier preparations for bankruptcy protection](https://www.tokenpost.com/news/business/47185)