One of Seventh Avenue’s most storied companies will take yet another turn next year, as Kasper ASL’s board and creditors ponder a possible sale or "strategic alternatives" under the guidance of investment firm Peter J. Solomon.

Solomon was brought in last week to explore Kasper’s fate, including a possible sale that could exceed the $100 million offer made by a group of senior management execs earlier in the month, led by chief executive John D. Idol. The firm could also choose to exit from Chapter 11 bankruptcy protection under a reorganization plan that would pay off creditors with new stock issued as the Anne Klein Group.

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