The Children's Place Inc. filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the District of New Jersey on Nov. 8, Advance Local reported, as Reuters separately said the Secaucus, New Jersey-based retailer is seeking a sale after losses and weaker sales^1,2,5.

Advance Local, in identical reports on NJ.com, al.com, cleveland.com and OregonLive, said about 24 New Jersey stores are expected to close and that 732 jobs in the state are at risk^1,2,3,4.

A Worker Adjustment and Retraining Notification notice cited by Advance Local listed those New Jersey layoffs as taking effect on Feb. 4, 2027².

Reuters said the company, parent of the Children's Place and Gymboree brands, is looking for a buyer and has begun liquidating inventory⁵.

Advance Local, citing Chain Store Age, said the company is seeking to sell its assets, with a bid deadline of Dec. 9, and that stores and e-commerce sites would stay open during the process².

Reuters said the company had solicited proposals to sell substantially all assets, sell the brands, or potentially liquidate⁵.

Advance Local said the Chapter 11 case ended a two-year effort to revive the brand with Saudi investment backing².

Co-chief restructuring officer Rudy Morando said in a statement carried by Advance Local that the filing was "an important step in our efforts to secure the best path forward for The Children's Place"².

Whether stores outside New Jersey will close has not been confirmed in the Advance Local report².

What a court will approve, who if anyone will buy the business, and how many locations will remain open nationally remain unknown^2,5.