Dive Brief:

• Private-equity firm Sycamore Partners, which owns several apparel retailers, is in discussions to by Chico’s FAS Inc.

• The retailer could be valued at more than $3 billion, according to the Wall Street Journal, which would make any deal the largest leveraged buyout of the year to this point.

• The retail company has more than 1,550 stores nationwide and in Canada, and include Chico’s, White House Black Market, Soma Lingerie, and e-commerce retailer Boston Proper.

Dive Insight:

These talks are advanced to the point where Sycamore is seeking financing, according to sources cited by the Wall Street Journal. If the deal goes through, it would be one of the largest leveraged buyouts in months, adding to Sycamore’s stable of several apparel retail brands.