Kanye West and Dame Dash may be coming to the rescue of Karmaloop, the online streetwear retailer that recently filed for bankruptcy restructuring, Billboard reported on Friday. The pair announced their intention to buy the company in a series of Instagram posts on Thursday following talks with Karmaloop founder Greg Selkoe. It was announced last week that the 15-year-old Karmaloop would be restructuring after filing for chapter 11 bankruptcy due to debt. In response to rumors of West and Dash's interest, Selkoe confirmed on Tuesday that the three were "talking" and on Thursday tweeted that it was "good speaking" with West. Following concern that he would be leaving the company he told one fan on Twitter that "I am here to stay no matter who we join forces [with]." While the Boston-based company's core business of online retail remains strong, it accumulated a "bunch of debt" from the launching of recent business startups, Selkoe told the Gearbottle website.
