Clintons card chain has been sold back to the existing owners as part of a rescue deal securing 2,500 jobs saving 334 stores.
After the retailer went into administration it was immediately sold to Esquire Retail which is owned by the Weiss family who owned the card chain for seven years.
KPMG who were appointed administrators said the pre-pack administration will safeguard all 2,500 jobs.
Eddie Shepherd, chief executive of Clintons said, “Despite receiving support from a number of landlords, we were unfortunately unable to secure the requisite support needed to successfully launch our proposals.
“With no other investment options available, we therefore had to take the difficult step to place the company into administration.”
He added, “We are confident that this deal will kickstart a new chapter for our business.”