Allan Questrom, who once ran the mighty Federated Department Stores chain - Macy's and Bloomingdale's - is now the new non-executive chairman of Deb Shops, a Philadelphia-based chain of 337 stores that sell clothes to regular and plus-sized adolescents.

Questrom is a senior adviser to Lee Equity Partners L.L.C., the private equity group that purchased Deb Shops.

Lee is now receiving investment support from Prospect Capital Corp., a New York business development company, which said it has made a $15 million second lien secured debt investment in Deb Shops.

Questrom was CEO at Cincinnati-based Federated from 1990 to 1997. Federated became Macys Inc. in May.