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Talks have reportedly broken down between specialty apparel retailer J. Crew and Uniqlo parent Fast Retailing, according to a report by Dow Jones that cited sources.
The news follows a report by the Wall Street Journal last month reported that J. Crew was in talks with the Japan-based retailer, in what was said to be a $5 billion deal.
Despite the breakdown, Dow Jones reported discussions between the two companies could still be rekindled.
(Read more: J Crew in talks to be sold to Fast Retailing: Report)
The apparel chain was taken private by TPG Capital and Leonard Green & Partners in 2011.
J. Crew, TPG and Fast Retailing declined to comment on the report.