The board of Children's Place Retail Stores Inc. said Friday it has approved a request from its former chief executive Ezra Dabah to work on a proposal to acquire the company with a private equity firm.Dabah had asked the board's permission to bypass shareholder acquisition laws that could otherwise preclude Golden Gate Private Equity Inc.'s participation in an offer.
Children's Place continues to struggle in the midst of a difficult retailer environment and a decline in the company's cache as a moderate priced but high styled children's clothing store. Keep a close eye on how this all plays out.
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