Report: Canada’s YM to buy parent company of Mandee

New York -- Big M, owner of the Mandee, Annie Sez and Afaze apparel chains, will be sold to YM Inc., Toronto, in a $22.5 million deal expected to be approved by a bankruptcy judge next week, The Record reported.

YM operates more than 600 young women’s specialty stores under a variety of banners, including Stitches, Urban Planet, Bluenotes, Siblings, and Sirens.

The acquisition of the 129 Mandee, Annie Sez, and Afaze stores would give YM, which has started opening stores in the United States, a strong foundation on which to expand on the East Coast, the report noted.