[THE INVESTOR] Several medium-sized Korean apparel makers are looking for new owners.

Struggling with a sluggish market, some have been pushed over by global SPA companies into court receivership, and are now seeking to find right bidders to breathe new life into them.

YK038 that owns womenswear lines HUM and Shatin has selected Samil PricewaterhouseCoopers to lead its sale and will accept letters of intent by Aug. 4. 

The Seoul Central District Court is in the process of selecting a lead manager for the sale of Dream Hotu that owns casual wear brand Feltics, according to local media reports. 

Established in 2011, the company launched the hip-hop spirited brand and a clothing line featuring Disney characters, recording 20 billion won (US$17.55 million) in revenue in 2014. Last year, though, it reported an operating loss of 3.8 billion won.

Some industry sources say Hyunwoo International will also be put on the market. The company operates Le Shop, one of the largest SPA brands for women, and is currently under court receivership.

Last year, KOSDAQ-listed SPA brand Codes Combine graduated from court receivership when it was acquired by apparel and underwear maker Cotton Club, and by the end of the year returned to black.

By Hwang You-mee (glamazon@heraldcorp.com)