Private equity group Sun Capital Partners has acquired bankrupt casual apparel retailer Anchor Blue, safeguarding the immediate future of the company's 113 stores.

Sun Capital completed the deal through its Anchor Blue Holding Corp affiliate, following Anchor Blue's filing for Chapter 11 bankruptcy protection in May this year.

"We are stronger and more competitive than ever, with a lean cost structure and substantial operating leverage, and we look forward to working with our vendors to help us continue to provide our customers with the quality clothing and value they expect from Anchor Blue," said Thomas Sands, president and CEO of Anchor Blue.

Anthony G Polazzi, principal of Sun Capital Partners, said this was the third affiliate Sun Capital had guided through a bankruptcy process this year.

"We believe that the company is well-positioned to capitalise on the rebound in the US retail economy which has suffered from historic revenue declines in the past two years," he added.