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Diddy is planning to buy back the Sean John brand out of bankruptcy.
According to the legal docs obtained by TMZ, Diddy has placed a $3.3 million bid to buy the assets of the clothing brand.
Sources close to Diddy said that he is very excited about acquiring full ownership of the brand and rebranding the clothing line.
The current company that owns 90% of Sean John is giving a December 15 deadline to any potential bidders.