Investment company Endless has acquired struggling UK-based footwear retailer Jones Bootmaker.
The £10.5m deal is expected to save 72 stores and 840 jobs.
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Jones Bootmaker’s remaining 31 stores are set to close, affecting 260 jobs.
Value shoe chain Brantano of Alteri Investors, which owns the retailer Jones, collapsed earlier this week.
The profitable parts of the business were bought under a pre-pack administration deal by Endless.
BBC reported KPMG partner Will Wright as saying: "We are delighted that we have been able to rescue such an iconic UK footwear brand as Jones Bootmaker, including a high proportion of stores and preserving a large number of jobs, especially given the current economic pressures faced by retailers across the UK.
"This deal recognises the value of Jones as a strong and popular high street brand with a loyal customer base."
Four months after Alteri acquired Jones and Brantano in October 2015, Brantano went into administration and was purchased again.
The chain was subsequently put into administration after Alteri faced difficult trading conditions and could not find a buyer.
Jones Bootmaker has more than 100 branches and around 20 concessions in retail outlets throughout the UK.
