Sean “Diddy” Combs Bids for Bankrupt Sean John Label

Sean “Diddy” Combs has reportedly bid $3.3 million to purchase the assets of Sean John, the fashion brand he founded, out of bankruptcy, reports Bloomberg.

Brand management firm GBG USA Inc. owns 90 percent of the brand via a joint venture with Combs, according to court papers. GBG has reportedly been vetting buyers for the brand since May. Other potential buyers have until Dec. 15 to submit bids.

GBG has been selling off its other holdings, like footwear brand Aquatalia, since it filed for bankruptcy in July.