Abercrombie & Fitch's (ANF) stock rose 12% in early trading on Wednesday following a news report that the company was looking to sell itself..

The news, which drove up the company's stock $1.51 to $14.18, comes as major retailers are closing stores or filing for bankruptcy.

According to a Reuters story, Abercrombie has hired the investment bank Perella Weinberg Partners to oversee possible takeover deals

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A one-time fashion darling for teenagers and 20-somethings, Abercrombie has since lost its mojo.

Other chains with major mall presences that are struggling include Payless, Bebe, Rue21, J.C. Penney, Macy's and Sears,

Abercrombie's stock is at its lowest since 2000.