Administrators have found a buyer for the Kookai chain in the UK, securing its future on the high street.

Deloitte was in final negotiations with an unnamed buyer for the fashion chain as Retail Week went to press.

According to sources close to the deal, the French owner of the Kookai brand has agreed to issue a UK licence to the purchaser, understood to be an industry player with experience in the womenswear sector.

The 55-outlet chain went into administration on January 3 after franchise operator Forminster failed to renegotiate contract terms.

Forminster's Sandro chain was also forced into administration on Friday 13, after less than a year of trading in the UK. The upmarket French womenswear business comprised a standalone store in London's Covent Garden and three department store concessions.

Disposals of Kookai outlets are being handled by property adviser DTZ.

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