Bankrupt U.S. teen retailer Aeropostale Inc (AROPQ.PK) received bids this week for its business from private equity firm Sycamore Partners, as well as liquidators, firms that wind down businesses, according to people familiar with the matter.

Investment firm Versa Capital Management LLC did not submit a bid for the business, the people said. Versa had been preparing a stalking horse offer for Aeropostale as a going concern business, and the retailer had received court approval to pay some of the expenses incurred by Versa in putting together the proposal.

A U.S. bankruptcy court judge on Friday issued a decision siding with Sycamore in its fight with Aeropostale, who accused the firm of conducting a “loan to own” scheme and pushing the retailer into bankruptcy. Aeropostale had asked the judge to bar Sycamore from using the $150 million it is owed as credit to bid in the auction, but the judge denied that request.

READ FULL ARTICLE HERE