Children's Place Hoop unit to file for bankruptcy

NEW YORK, March 26 (Reuters) - The Children's Place Retail Stores Inc (PLCE.O: Quote, Profile, Research, Stock Buzz) said on Wednesday that its Hoop Holdings LLC unit will declare bankruptcy as part of the company's plans to exit the Disney Store North America Business.

The decision was part of Children's Place's strategic review process that it announced on March 20, the company said. The Children's Place and Hoop have been in negotiations on the transfer of a substantial portion of the Disney Store North America business to The Walt Disney Co (DIS.N: Quote, Profile, Research, Stock Buzz). (Editing by Gary Hill)