Kids Retailer Started by Former Children's Place Exec Files for Chapter 7

The ousted CEO of The Children’s Place, who two years ago launched his own chain of children’s clothing pitched as “obtainable luxury,” has ended his effort with the company’s bankruptcy. Ruum American Kid’s Wear, started by Ezra Dabah, the former chairman and CEO of The Children's Place, has filed for Chapter 7 bankruptcy liquidation — just six months after a published report quoted him as saying he was looking to open 250 new boutique stores, even as he was closing his mall stores. The company, which was started in 2013, reported assets of $109,878 and liabilities of $65,723,481, according to papers filed last week in U.S. District Bankruptcy Court in Delaware.