World of Sofas, the sofa chain set up by Land of Leather founder Paul Briant, has been bought out of pre-pack administration by its management team, led by Briant.
Nine of the 12 World of Sofas stores will continue to trade under the terms of the pre-pack, according to The Sun. The chain’s assets and stock were also bought in the £350,000 deal. The three remaining stores have been shut, in Cardiff, Aberdeen and Inverness.
Berley Chartered Accountants were appointed administrators last month.
World of Sofas launched in 2009, as first revealed by Retail Week. At the time Briant said he wanted to open 60 stores in the next five years.
Briant retired and stepped down as Land of Leather chief executive in 2008, before its collapse in January 2009.