Buyout firm Sycamore Partners has won the auction for the e-commerce business and intellectual property of bankrupt U.S. women's apparel retailer The Limited with a bid of $26.8 million, Reuters reported yesterday. Sycamore Partners outbid clothing firm Sunrise Brands LLC in the auction, the people said, asking not to be identified because the outcome has not yet been announced. The sale to Sycamore Partners must still be approved by a U.S. bankruptcy court judge. The Limited was forced to close its roughly 250 brick-and-mortar stores earlier this year. It filed for bankruptcy last month, with Sycamore Partners as a stalking-horse bidder. Sunrise Brands, whose holdings include branded apparel for actresses Melissa McCarthy and Eva Longoria, submitted an offer for The Limited last week.
