My money is on 2Q 2014. With 2 more unprofitable quarters the credit facility will be tapped hard and that coupled with holiday sales will get them through 1Q 2014. By 2Q the company will have no choice but to file bankruptcy. There will be no buyout of course because the company has no hard assets.
I estimate that you didn't read the conference call transcript that said the company didn't have any borrowings on its credit facility during the entire last fiscal year! If you want credibility on a message board, knowing facts is helpful, so you can make an actual thesis using facts explaining why you think things are going to get worse in the next year. As for no buyouts, that's hilarious - tell it, of course, to the buyers of Talbots!