Fashion company Internacionale Retail has been brought out of administration, in a deal safeguarding 114 shops.
In a pre-pack deal, Internacionale UK has bought the assets of the company as a going concern, comprising 114 stores, the group’s head office and its finance operation.
A further 18 shops are not part of the purchase, and will close with immediate effect.
The sale comes after administrators at Ernst & Young were appointed to Internacionale Retail on 12 July.
Tom Jack, joint administrator, said: “The business will continue to trade without interruption, all of the 1,550 jobs have been transferred to the new owner and the future of Internacionale on the UK and Ireland high street has been safeguarded.”
