Karmaloop Files for Bankruptcy; Kanye West Potential Buyer?

Weighed down by millions in debt and poor business ventures, the Boston streetwear company Karmaloop Inc. filed for Chapter 11 bankruptcy Monday. Meanwhile, rapper Kanye West and hip-hop entrepreneur Dame Dash expressed interest in buying a majority stake of the 15-year-0ld company, said Greg Selkoe, founder and chief executive of Karmaloop.