Maternitywear retailer Blooming Marvellous has been bought out of administration by a new company formed by Ethel Austin owner Elaine McPherson.
Elaine McPherson along with Mike Basso, owner of brand licensing specialist PanWorld Brands, and Jim McDowell, who will be managing director for the business, have bought Blooming Marvellous for an undisclosed sum from administrators MCR.
McPherson said: “This is a great opportunity to acquire what is still, despite recent trading difficulties, a strong and well recognised brand. The new management team have huge experience in retail, direct and product sourcing, and we intend to work with the existing staff to ensure that Blooming Marvellous returns to being a market leader in the sector.”
Blooming Marvellous was founded in 1983, grew from a mail order business to become a multi-channel retailer with 15 stores and a catalogue and internet business. The latest annual turnover for the company was approximately £12m.
MCR joint administrator Philip Duffy added: “This is a good result for the business, allowing the Blooming Marvellous brand to maintain its presence in the high street and on-line, whilst also saving jobs.”