Buyout shop GB Merchant Partners, through its GB Merchant Partners’ 1903 Equity Fund, said that it has acquired Ashley Stewart, a Secaucus, N.J.-based plus size fashion retailer. Financial terms of the deal were not released. Formed in 1991, Ashley Stewart has more than 200 stores, and plans to expand following the acquisition. GB Merchant Partners has offices in New York and Boston. It’s 1903 Equity fund has roughly $270 million in committed capital.

Stewart Cohen has agreed to join Gordon Brothers as chief operating officer, effective May 10. He previously was executive vice president of special assets at Textron Financial.

James Rhee has joined GB Merchant Partners as a managing director of the 1903 Equity Fund, which invests in middle-market retail and consumer products companies. He previously was with J.W. Childs Associates.

(Reuters) – Jewelry retailer Finlay Enterprises Inc (FNLY.OB) filed for Chapter 11 protection in a Manhattan court late on Wednesday and said it would sell its assets in an auction supervised by the bankruptcy court. In a statement, Finlay said Gordon Brothers Retail Partners LLC would act as the stalking horse bidder at the auction. [...]

Gordon Brothers and Hilco Consumer Capital have completed their acquisitions of Polaroid, out of bankruptcy.

NEW YORK (Reuters) – Gordon Brothers and an unspecified “group from China” are expected to make bids for the assets of bankrupt department store chain Gottschalks by Wednesday night or Thursday morning, the head of the department’s store’s creditor committee said on Wednesday. “We’re expecting a couple of bids today which we haven’t gotten yet,” [...]

Update: NY Times is reporting that Hilco and Gordon Bros. have withdrawn their bid. NEW YORK (Reuters) – Liquidators Hilco Merchant Resources LLC and Gordon Brothers Retail Partners were named as the lead bidder in a bankruptcy auction on Monday for U.S. luxury retailer Fortunoff Holdings LLC, according to a person with knowledge of the [...]

Gordon Brothers Group has formed GB Investment Management Group, an umbrella group to manage all of the firm’s funds and legacy investments.