The company, which has chalked up losses in 12 of the last 14 quarters, has valuable assets in its store leases and in its brand. "Delia's has really good real estate in the 'A' malls," said Kathleen Heaney, retail analyst at Brean Murray. The leading candidate for a deal would be Too Inc., parent of Limited Too, seeking to capture market share in an area it's missing, Heaney said. "Too deals with the 'tween customer – the 7- to 13-year-old girl," she said. "Last year, the company opened a new store called Mish-Mash because it was losing these girls to Delia's" as they got older. Deb Stores, a small retail chain targeting the teen customer, could also be interested, Heaney added. "It's been funding things through internally generated cash." Delia's acknowledged last year that it had problems, and brought in former Limited Brands executive Andrea Weiss in May 2001 to lead a company turnaround.