Edinburgh Woollen Mill has bought the Jane Norman brand and 33 stores from administrator Zolfo Cooper.
Edinburgh Woollen Mill has also acquired the stock of all 94 of Jane Norman’s standalone stores and concessions. A “transitional services agreement” has been agreed between the administrators and Edinburgh Woollen Mill affecting another 28 shops and concessions - it is hoped they can be saved - but the remaining 33 Jane Norman shops will close.
The deal will safeguard 396 jobs out of 1,600 at Jane Norman.
Jane Norman concessions in Debenhams department stores will continue to trade “for the moment” and it is hoped a sale of them may be agreed.
Zolfo Cooper partner Alastair Beveridge said: “It has been an exacting time for the company, which has a substantial amount of debt. We are pleased to have ensured the survival of such a familiar presence on the high street, while securing the jobs of at least 396 Jane Norman employees.
“Unfortunately, the sale has resulted in job losses, which we appreciate is difficult news for those involved. We would like to thank them for their professionalism and support during what has been an uncertain time.”