The Children’s Place files for bankruptcy protection

The Children's Place has filed for Chapter 11 bankruptcy protection and looking to sell its assets.

The company is inviting offers from buyers through early December, according to a CNBC report.

As of the filing the company ran two online stores and 514 locations in North America.

"For nearly 60 years, The Children's Place has supported growing families with apparel that customers have come to know and love. We recognize the significance of this development for our employees, customers, vendors, and other partners, and we are committed to conducting an efficient and transparent sale process," Rudy Morando, co-chief restructuring officer of The Children's Place, told the news outlet. "In the meantime, we remain focused on serving the families who have trusted The Children's Place for generations."