The footwear retailer has acquired the Dolcis brand name and the chain’s stock. It has negotiated the temporary right to trade from 24 Dolcis leasehold stores with the option to run them longer term subject to landlord permission.
In a statement, Stylo executive chairman Michael Ziff said: "We remain in a very competitive environment and this acquisition is a great opportunity to strengthen our position in the retail footwear sector."
The move is the latest instalment in the saga of the turbulent footwear market. Late last month, Shoe Zone rescued Stead & Simpson from administration.
Dolcis fell into trouble just before Christmas when its backer Epic Private Equity pulled the plug on the 185-store business. It went in to administration last month.
Retail entrepreneur and former owner John Kinnaird was also understood to be in the running to buy back a pared-down version of the chain.