Fashion and homewares retailer Joy has been bought out of administration, saving around 150 jobs.
The business and its assets have been sold to Louche London, a new company formed by the previous management and outside investors.
Twelve of Joy’s 28 stores will remain operational.
Paul Appleton and Asher Miller of David Rubin & Partners were appointed as administrator on the 26th of September when the fashion and homewares chain became the latest retail victim of the economic downturn.
Louche London is currently in negotiations with landlords and its suppliers over the future trading of the business. A creditors meeting will be held on Friday.
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