By Marcus Leach
Sun European Partners have brought fashion chain Bonmarche from Peacocks Group for an undisclosed sum.
Peacocks had previously announced that they had entered administration, and whilst on the surface of things this will come as good news, it is thought the deal will still cost in the region of 1,000 jobs.
Sun, which bought the entire chain apart from three stores, has said it will continue to run 230 stores but will close about 160.
With debts of £240 million Peacocks had hoped to avoid going into administration last week, but the inevitable happened as administrators KPMG
were brought in.
"Given the hostile conditions on the high street, we're pleased to have concluded a sale with Sun European Partners," Chris Laverty, joint administrator and restructuring partner at KPMG, said.
"The deal is a positive step forward in underscoring Bonmarche's future."