Children’s Wonderland Sells 5 of 13 Centers

Troubled day-care provider Children’s Wonderland Inc., said it has sold five of its 13 day-care centers to focus on intergenerational centers, which serve both the elderly and children. The company sold centers in the Denver area and one center in Lake Forest for an undisclosed amount. “Over the past few months we have made a determined effort to reduce costs throughout our organization. . . . The sale of these smaller, traditional centers is an integral part of that process,” said Debby Bitticks, chief executive for Children’s Wonderland. The Agoura Hills-based firm, which was started in 1993 by Bitticks, went public in 1996 only to see its shares plummet this year to just pennies on the dollar. The company has sued its investment bankers and retained Los Angeles-based Ambient Capital to explore financing alternatives. The company was delisted from Nasdaq in April. Its stock was priced at 28 cents a share Wednesday in over-the-counter trading.