Henri Lloyd is to be brought out of administration by a company called Aligro UK Limited, and it will continue to trade from stores in Salcombe, Dartmouth, Cowes, Cheshire Oaks and Lymington.
The stores kept open will save 38 jobs, however 128 jobs in total will be axed as stores in Falmouth, Truro, Street and Swindon, as well as 20 House of Fraser concessions are closed alongside its Manchester headquarters.
In addition to retail jobs saved, six head office roles will also be retained.
RSM Restructuring Advisory were brought in on 8 June to oversee the administration process at Henri Lloyd.
Yesterday the sale of five stores and certain stock assets was confirmed, the buyer Aligro UK Limited was established on 4 June 2018.
Chris Ratten of RSM Restructuring Advisory said: “This sale represents the best outcome for creditors, it maintains Henri Lloyd’s presence in key locations and secures 44 jobs.
“Selling the whole business as a going concern was not a viable option and regrettably a number of staff have been made redundant as a result. We will be supporting them to make their claims to the Redundancy Payments Office.”