Canada's YM to buy US parent of Mandee, Annie Sez

Toronto-based fashion retailer YM will pay $22.5 million to acquire New Jersey-based Big M, the owner of retail brands Mandee, Annie Sez and Afaze, subject to approval by a bankruptcy court judge next week. YM, which operates more than 600 fashion stores under several banners including Stitches, Urban Planet and Sirens, has begun to open stores in the US and the acquisition of Big M's 129 stores would give it a strong base on the East Coast, retail consultant Wendy Evans said.

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