Mr Shoes, the branded footwear chain, has been rescued by its former directors.
Mr Shoes was bought from administrators Larking Gowen today via a newly formed company called Glayone.
The deal will save nine of the footwear retailer’s 23 stores including branches in Norwich, Kingston, Wimbledon, Oxford, Bristol, Leamington Spa, Bury St Edmund and Peterborough.
Administrator David Whitehead said: “We are delighted with the completion of this sale which will preserve 53 jobs at its head office and warehouse function in Dereham and in the nine stores that will continue trading.”
“It is of course unfortunate that some of the stores have had to close with job losses but the company was a victim of the recession that is affecting many UK retailers.”
Last week Stephen Buck, the owner of Moda in Pelle, told Drapers he was interested in rescuing the Mr Shoes business.
Creditors of Mr Shoes Limited should provide written details of their claim to Larking Gowen, King Street House, 15 Upper King Street, Norwich NR3 1RB; or can contact Larking Gowen by telephone on 0845 450 2466.