Canada’s Jean Machine gets new owners

By

Jennifer Braun

Published
Mar 24, 2017

Canadian denim and fashion retailer Jean Machine has new owners. The multi-brand retailer filled for bankruptcy protection in January.
 
Pacific West Commercial Corporation, an affiliate of Vancouver-based Stern Partners Inc., announced on Wednesday that it has acquired the business and assets of Jean Machine.
 

"We are excited about the long-term potential of Jean Machine and the denim and casual apparel market in Canada," says Ronald N. Stern, President of Stern Partners, in a news statement. "We are confident in the underlying business and believe that, with Jean Machine's liquidity issues behind it, the business is well-positioned for success. We are excited about growing the business with the company's valued employees, customers and suppliers."
 
Stern Partners currently has controlling interests in national retailers such as Bootlegger, cleo, Ricki's, Warehouse One and Urban Barn, and operates over 500 stores.

"I'm pleased that Jean Machine has found a strong new owner for its business, with a commitment to growth and a long-term investment horizon,” added Roy Perlman, one of the founders of Jean Machine. “I'm equally pleased that almost all of Jean Machine's stores will remain open and that substantially all of our dedicated employees continue to have the opportunity to work with Jean Machine.”
 
Jean Machine was founded 40 years ago. The Toronto-based company has approximately 30 store locations.