Former CEO May Bid for Children's Place
New York City, Ezra Dabah, the former CEO and a current director of The Children's Place Retail Stores Inc., is considering making a bid for the retailer, according to a Securities and Exchange Commission filing Monday.
Recently, the retailer has been hammered by a string of bad news, including Dabah's resignation in late September after a company probe found he had violated internal policies for securities trades.
In Monday's filing, Dabah and his wife reported a 17.9% stake in the company and said they plan to contact potential private-equity sponsors and strategic buyers about a possible acquisition offer. Dabah said he also may support a third party's proposal to acquire the company.
The former CEO said he plans to discuss strategies to maximize shareholder value with other stockholders, including a potential proxy solicitation to elect directors to the company's board.