Catherine Malandrino ran into money troubles following an aggressive and badly-timed expansion in 2008, and she's been courting prospective buyers since December. Now it looks like she's found one, reports Women's Wear Daily: The designer is in "advanced" talks with the rapidly expanding company Kellwood, which owns a large portfolio of contemporary labels like Vince, Adam, and Rebecca Taylor, the last of which was purchased just a few months ago.

Also known for "unceremoniously dumping" Kimora Lee Simmons from Baby Phat last year, Kellwood has been buying up companies left and right since they got backing from private equity firm Sun Capital in 2008. Catherine Malandrino falls comfortably in the same class of price points and retail presence as Kellwood's other brands (Adam, Rebecca Taylor, and Catherine Malandrino are clustered adjacent to one another on Hudson Street in the Meatpacking district), so the buyout seems like a logical move for all parties.

Kellwood Said In Talks to Acquire Catherine Malandrino [WWD]