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Although it was widely believed that private equity firms would gorge themselves on fashion houses following last year's sale of Tommy Hilfiger to Apax Partners, it seems that's not the case for two troubled auctions, Jones Apparel Group and Kate Spade, according to separate New York Post articles this week. The auction for Jones is near death over price and concerns about the health of the company's brands, which include Jones New York, Anne Klein and Nine West, the Post reported. Bain Capital is listed in the story as the only serious bidder left, but the Boston-based firm reportedly refuses to pay the $35-a-share asking price. Similar concerns have put the Kate Spade auction on ice. The tony handbag maker has seen its sales slow over the last year leading potential bidders Liz Claiborne and VF Corp. to balk at the New York company's $130 million asking price.—Matthew Wurtzel See Jones story from The New York Post
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