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Marchpole's Jean-Charles de Castelbajac subsidary rescued

Marchpole Holdings' Jean-Charles de Castelbajac (JCC) subsidiary has been rescued by Swedish firm Atlas Design Group in a deal worth £3.15 million.

The JCC subsidary was owned by Marchpole, which went into administration last week.

Marchpole had the rights to the JCC diffusion line and produced and sold JCC clothing and accessories internationally. The subsidiary company also has flagship stores in London, Paris, Lyons and Tokyo and employs seven people in London and 30 in Paris.

Martin Ellis of administrators Grant Thornton, which handled the sale, said: "We are pleased to have achieved a going concern sale out of the Marchpole Group. The sale of the shares allows the business to move forward under new ownership, whilst realising value for Marchpole's creditors."

Peter Wahlberg, chairman of Atlas said: "We are delighted to acquired JCC into the Atlas Design Group. Through its London based holding company, Momentum Brands Holding, Atlas Design intends to continue to expand internationally within its luxury brand management division."

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