DIDDY PLACES $3.3 MILLION BID TO BUY BACK SEAN JOHN OUT OF BANKRUPTCY

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Diddy is looking to buy back his Sean John brand to save it from bankruptcy.

According to celebrity website TMZ, the Bad Boy Records founder recently placed a $3.3 million bid to purchase his namesake clothing brand back from Global Brands Group, which currently owns a 90 percent stake in Sean John.

The company’s U.S. arm filed for bankruptcy this July and made plans to sell off its key assets.

According to TMZ, Global Brands Group began looking for potential new buyers for Sean John in May.

Diddy launched the brand as a fashion lifestyle company in 1998, debuting its men’s sportswear collection that same spring, and sold a majority stake in the brand to Global Brands Group in 2016.