Iconic London department store the General Trading Company has been sold as a going concern to an unknown investor.

General Trading Company was placed into administration on July 21, as predicted in Retail Week (July 18).

Paul Clark, partner at insolvency firm MCR, said: “We are pleased to announce the sale of General Trading Company as a going concern, particularly as we remain in a difficult trading environment in the retail sector.

“Not only have we managed to preserve an historic reputation associated with the store, we’ve also been able to preserve the majority of jobs in the company, with 19 staff retaining their positions."

Founded by the Part family in 1920, General Trading Company was one of London’s first boutique home stores focusing on soft furnishings, interior décor and glassware as well as clothing. It became highly fashionable and gained Royal patronage.

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