A $3 billion private-equity-led buyout of popular retailer J. Crew Group appears set to go off without a hitch.

J. Crew, run by Mickey Drexler, didn’t receive any bids during its recently closed go-shop period — paving the way for private equity shops TPG Capital and Leonard Green & Partners to follow through with their plans to buy the New York company for $43.50 a share in cash, Reuters reported yesterday.

The popular clothing store, a favorite of First Lady Michelle Obama, agreed to the $3 billion leveraged buyout in November on the condition it doesn’t receive any better offers during the go-shop period, which ran through Saturday. Sears and Urban Outfitters kicked the company’s tires during this period, but didn’t make any bids, Reuters said.

Representatives of J. Crew, TPG and Leonard Green didn’t return requests for comment.

Under the deal with TPG and Leonard Green, CEO Drexler — credited with reviving the flagging brand when he took over in 2003 — will continue as chairman and CEO.