Though the online streetwear distribution company Karmaloop has had a lot of success in recent years they are rumored to be going bankrupt and it could happen this week. The NY Post reported on this first stating that the company tried it’s hardest to prevent filing Chapter 11. The Chief Executive of Karmaloop, Greg Selkoe, met with investors trying to work out the debts but if nothing works out Karmaloops could be facing “$100 million in writedowns on debt and equity”. In a recent interview Dame Dash spoke about him and Kanye wanting to purchase Karmaloop saying that they will be acquired very soon. This is not official as of yet but Karmaloops made sure to tweet out the Dame Dash interview with the caption “Kanyeloop” and we will keep you up to date on any new information as it becomes known.