Influential streetwear e-commerce site Karmaloop filed for bankruptcy Monday after expanding into several unsuccessful ventures and taking on too much debt.
Company CEO Greg Selkoe told the Boston Globe that the company plans to emerge intact from the bankruptcy restructuring process.
Karmaloop listed $10 million to $50 million in assets and $100 million to $500 million in liabilities in the bankruptcy filing, according to The Globe.
Karmaloop sales peaked at $165 million in 2013, and were around $100 million in 2014.
Selkoe also told the Boston Globe that Kanye West and Dame Dash have expressed interest in buying a piece of Karmaloop.
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