Viyella will continue to trade from 21 standalones and 16 concessions after it was rescued from administration by Austin Reed on Friday.
Some 230 Viyella staff will retain their jobs.
Viyella had 450 employees and more than 100 outlets before it went into administration last month. The classic womenswear business was founded in 1784.
It is unclear what Austin Reed, which also owns classic womenswear business CC (formerly known as Country Casuals), intends to do with the Viyella business.
Andrew Turpin from administrator Poppleton & Appleby, said: “We are very pleased to have reached an agreement with Austin Reed during what are quite obviously testing times in the retail industry.”
Turpin added: “There are good synergies between the two companies and we wish Austin Reed a successful future.”