Frederick's of Shanghai?

According to a New York Post article, lingerie chain Frederick's of Hollywood is putting itself up for sale, possibly to a buyer in China. Trounced by rival Victoria's Secret, the company had no comment other than to say it is bringing out new designs and expanding into bath and beauty. Last week, Frederick's disclosed it won a one-year extension to comply with covenants on a $7 million loan from Hilco Trading, which has a brand-licensing division that includes investments in Polaroid, Sharper Image, and Halston.