US children's clothing giant Children's Place nears bankruptcy

In depth

US children's fashion chain Children's Place is preparing to file for creditor protection or bankruptcy, according to Israel Hayom. According to Calcalist, citing a Bloomberg report, the company is seeking a buyer, and the options are continued operation or liquidation. The chain is grappling with declining customer traffic and a high debt burden.

According to TheMarker, the company, controlled by Saudi Mithaq Capital, has lost customers and is seeking a buyer to avoid liquidation. In Israel, about 30 stores of the chain operate under a franchise held by the Fox group, which is controlled by Harel Weisel. According to Ice, this is a real threat to the continued operation of the branches in Israel.