The specialty apparel retailer, which initiated store-closing sales last week, aims to sell itself by the end of the year, and bids are due in just a month.

The Children’s Place filed for Chapter 11 on Sunday in the U.S. Bankruptcy Court of New Jersey, days after telling regulators that executives who were major financial backers had left.

The children’s apparel retailer’s stores and website remain open, though store-closing sales began last week, per court documents. The company runs about 500 stores in North America.

The goal is to sell itself by the end of the year, with bids due Dec. 9, according to court documents. Nine proposals have been received but they are “not currently actionable.” The company plans to enter into a new term loan facility provided by existing secured lenders.

The Children’s Place was founded the same year as The Gap — 1969 — but the fate of the children’s apparel specialist is far less certain, as some of the firms interested in acquiring it could liquidate its assets.

“For nearly 60 years, The Children’s Place has supported growing families with apparel that customers have come to know and love,” Rudy Morando, the company’s co-chief restructuring officer, said in a statement. “We recognize the significance of this development for our employees, customers, vendors, and other partners, and we are committed to conducting an efficient and transparent sale process.”

The company in court documents lists total debts of over $881 million and total assets of about $742 million.

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