Sycamore Partners Management, L.P. (Sycamore Partners LLC) made a preliminary bid to buy assets of Ascena Retail Group, Inc. (OTCPK:ASNA.Q) including the Ann Taylor brand, according to people familiar with the matter. The private equity firm is offering to buy the Ann Taylor, Loft and Lane Bryant labels from Ascena, said the people, who asked not to be identified because the bid isn’t public. The offer is non-binding, and negotiations will continue before a final bid is submitted in court, the people said. Representatives for Sycamore and Ascena declined to comment.