Fashion and lifestyle chain Joy has been bought out of administration by its owners in a pre-pack deal, resulting in 78 job losses.
Gareth Roberts and Paul Ellison of KRE Corporate Recovery were appointed as joint administrators of the business earlier this week. High rents and rates were blamed for the downfall of the firm.
The company was immediately sold back to its owners Louche London and the Joy Group of Companies.
Joy has closed 11 stores across the UK as a result of the deal, with 21 remaining. The company is now staffed by 230 employees.
The business previously went into administration in September 2008 before it was bought by Louche London.