Stern Partners affiliate buys casual fashion retailer Jean Machine
An affiliate of Canadian private equity firm Stern Partners has acquired the business and assets of Jean Machine, a Toronto-based denim and fashion retailer. No financial terms were released. With the deal, the company, which sells from some 30 stores, will continue to operate independently. Jean Machine reportedly filed for bankruptcy earlier this year. Ronald Stern, president of Stern Partners, said the investor "is confident in the underlying business" and believes that "with Jean Machine's liquidity issues behind it, the business is well-positioned for success." In January, Stern Partners acquired LGBTQ TV network OUTtv.
22 March 2017•3 mins read
