Deb Shops Inc., which had been on the sale rack since early this month, was acquired Friday by Lee Equity Partners for $395 million! That’s over a million for each junior store! Who knew?
Allen Questrom has major plans for the 337-store chain. He said Lee Equity,
where he is a senior adviser, is eager to expand the company and also
will be pursuing additional opportunities in retail as well as in the
insurance, consumer goods, entertainment and health care sectors.
Under Lee Equity’s ownership, it is expected that Questrom, former chief of J.C. Penny, will serve as non-executive chairman of Deb Shops.
Questrom, noted that Deb Shops is focused on junior regular and
plus-size customers in a very competitive segment and said, "We look
forward to growing the company’s already strong customer base and
continuing to roll out its plus-size merchandise offering."