Stern Partners’ affiliate Pacific West Commercial has acquired the business and assets of Canadian multi-brand denim and fashion retailer Jean Machine.
With 30 stores, Jean Machine will continue to operate as an independent entity.
Following the acquisition, all Jean Machine's employees have been retained.
Stern Partners president Ronald Stern said: "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."
Stern Partners has more than 500 stores and controlling interests in five national retailers, namely Bootlegger, cleo, Ricki's, Warehouse One and Urban Barn.
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Jean Machine founder Roy Perlman said: "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.
"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."
Jean Machine’s stores operate under the Jean Machine brand.
In January, the company sought bankruptcy protection.