US retailer Men's Wearhouse is to buy assets of Filene's Basement for US$67m following a bankruptcy auction, reported US media.

Men's Wearhouse is to buy the company's trade name, along with some assets and inventory through the deal, according to a report by Reuters.

A spokesperson for Men's Wearhouse was not available for comment. Filene's filed for Chapter 11 Bankruptcy Protection last month.

Reuters reported that the bid was subject to a further hearing on Wednesday (10 June).