Children's Place gets advisor to review options

SECAUCUS, N.J. The Children's Place Retail Stores has hired Lehman Brothers to serve as its financial advisor. The company annnounced today that Lehman Brothers will help it review strategic alternatives to improve operations and enhance shareholder value.

Chuck Crovitz, interim ceo of The Children's Place Retail Stores, stated, ``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. We believe it is in the best interest of the company, our shareholders, and employees to initiate a comprehensive review of strategic alternatives for the business and to evaluate a variety of different options for enhancing shareholder value.''

The company said it has not set a specific timeline for the completion of the review, and that their is no gurantee that it will result in any changes to the company's current operating or organizational structure or lead to any specific transaction.