Beleaguered discount bookseller The Works has been bought by private equity company Endless, as reported by Retail Week Online yesterday (May 6).

The deal will save about 2,200 jobs and was struck last Friday.

In a management buy-in, a new team led by Anthony Skitt and chairman Alan Smith is understood to have drawn up a plan to return the bookseller to its core value.

The size of the deal is thought to be between£17 million and£25 million.