The former managing director of Jersey retailer the Collections Group has saved “most of the original business” and nearly all the positions facing redundancy.
Richard Clews has run the group since the early 1990s, building it from a single menswear store Mensclub.
Under the new company, R C Limited, the Freedom Surf store at Les Quennevais Shopping Precinct will be rebranded Freedom Surf and SDS. Concessions within department stores de Gruchy and Voisins will reopen this week.
The Freedom store on Halkett Street and the Axleman shop on King Street will cease trading.
In total, 40 of the 47 jobs have been saved, although it is not clear on what terms. The liquidator is arranging for unpaid wages to be paid. It emerged last week that the business had entered liquidation, although liquidators Grant Thornton were working to reopen some stores.
In a statement Clews said: “I fully appreciate that this has been a difficult time for everyone involved, not least for employees of the business who have endured uncertainty and concern for the future.”
Clews said it had been “complex process and has only been achieved with the full support and assistance of de Gruchy and Voisins”.
“We are particularly delighted to now have the opportunity to re-employ a large number of our talented and dedicated staff,” he added.
Neville Moore, managing director of de Gruchy said: “It is very important in these challenging economic times that local businesses are able to work together to not only save vital jobs but to also ensure that St Helier remains a vibrant trading location for both locals and visitors.”