Liz Claiborne To Sell Mexx?

According to a Bloomberg report, Liz Claiborne Inc. is seeking to sell most of its its money-losing Mexx brand, its largest division that accounts for about a third of its revenue, for about $100 million plus $100 million to cover debt and capital requirements. Leonard Green & Partners, Sun Capital, and Golden Gate Capital expressed interest. Final bids are due in a few weeks with sale completion around early September.