Urban Brands to Avoid Bankruptcy

An affiliate of Boston-based store liquidation specialist Gordon Brothers Group LLC will bring plus-size women's apparel retailer Urban Brands Inc. out of bankruptcy, saving at least 175 of the chain’s 210 stores, according to Bloomberg.com. GB Merchant Partners, the affiliate, has won an auction for the company, which operates under the Ashley Stewart brand. GB Merchant will pay $15.7 in cash and assume some liabilities, according to GB Merchant Partners company attorney Mark D. Collins. Urban Brands, based in Secaucus, N.J., filed for bankruptcy on Sept. 21, citing the recession and listing debt of $100 million to $500 million,