Bankrupt women’s apparel chain gets a buyer

The Limited is in line to get a new lease on life.



Sycamore Partners has won the auction for the e-commerce business and intellectual property of the bankrupt women's apparel retailer with a bid of $26.8 million, according to Reuters.



The private-equity firm, whose retail portfolio includes companies such as Belk, Nine West and Coldwater Creek, outbid clothing firm Sunrise Brands LLC in the auction, which submitted an offer for The Limited last week.



Sycamore Partners was a “stalking-horse” bidder chosen by The Limited, which has shut down all its stores and website, in effort to ward off low offers on its assets.



The sale still needs to be approved by a U.S. bankruptcy court judge, Reuters reported.



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