Grafton Fraser Acquires Jones New York Stores Across Canada

Amid a wave of store closings, a couple of mid-market apparel retailers have found new owners and are mapping out a turnaround strategy, banking on bucking the trend of shrinking fashion chains. Men’s clothing retailer Grafton Fraser Inc., which runs Tip Top Tailor, said Wednesday it has acquired 35 Jones New York women’s wear stores that had been expected to close — and plans to expand to at least 50 outlets in the next five years.