Lingerie supplier Intimas has been rescued from administration by fabric supply business Linwood Fabrics.
Linwood Fabrics has bought “a significant part” of the business out of administration including the Charnos and Lepel brands.
Intimas, which is a designer and supplier of lingerie, nightwear and swimwear, collapsed into administration in July after being impacted by the weak Sterling and tough trading. The deal has saved 50 out of 200 jobs at the Intimas business.
The remaining parts of the business are under review, with further redundancies expected to be announced.
Stuart Maddison, joint administrator and partner at PricewaterhouseCoopers said: “I am delighted to have concluded a sale resulting in the continuity of some well-established brands. We are assessing the options as a matter of urgency with respect to those areas of the business which did not form part of this sale, and will continue to liaise with the relevant customers, suppliers and employees as to the options available to us and the timetable.”