The Parent Co. filed for Chapter 11 bankruptcy protection right after Christmas for itself and several e-commerce subsidiaries at the U.S. Bankruptcy Court in Wilmington, DE.

Formerly known as Baby Universe Inc., Denver-based Parent Co. operates such Web sites as BabyUniverse.com, DreamtimeBaby.com, PoshTots.com and PoshLiving.com, Etoys.com and My.Twinn.com, among others. Parent also sells products through catalogs and partnerships with other Web sites.

The investment banking firm Oppenheimer & Co. has been hired to explore the possible sale of some or all of the company