"The Board of Directors and management team are focused on strengthening the organization and positioning the Company to take advantage of long-term growth opportunities through its Children's Place and Disney Store brands," said chief executive Chuck Crovitz in a statement. "We believe it is in the best interest of the company, our shareholders, and employees to initiate a comprehensive review of strategic alternatives."I bring this up because the latest announcement has a great deal to do with the previous resignation of the company's CEO. As discussed in my earlier blogs, Children's Place previous CEO, Ezra Dabah, the company's largest shareholder, has hinted he may be seeking ways to purchase the firm. Dabah had been forced to resign after a company probe found he had violated internal corporate policies for securities trades.
The company has been reeling lately and a purchase by Dabah would be a strange circumstance. Could he rest total control at a fire sale price? If so, how would this all be viewed? Who else at there might be interested in Children's Place?
Keep a close eye on this company, it could turn out to be story with innumerable angles.
For more on the latest:
Yahoo Finance
Blogging Stocks
AOL Money
Forbes
SEC Investor
2 comments:
Post a Comment