Damon Dash and Kanye West May Buy Karmaloop

Following reports that once-revered streetwear retailer Karmaloop may soon file for bankruptcy, we’re hearing news that there are some big-name potential buyers. In an interview published on Monday, Damon Dash revealed that he and Kanye West are in the running to buy the struggling e-retailer. The Boston-based company has filed for Chapter 11 bankruptcy protection after several failed offshoots (including its women’s streetwear portal, MissKL) resulted in a mountain of debt for the company. According to Karmaloop Founder and CEO Greg Selkoe, Kanye and Dash aren’t the only potential suitors, “We’ve heard from them and others too. There’s a lot of interest in Karmaloop and we consider that a good thing.” At this point, Karmaloop may be forced into a Chapter 11 filing if it can’t make a deal with investors to restructure debt and add capital.