KIDDERMINSTER menswear and formal hire firm Greenwoods is to remain open after administrators announced the sale of the business to new owners.
Deloitte have announced the sale of the company to Versatile International Trading Limited - after the company was placed in administration in September.
Forty retail stores - including the Vicar Street branch - will remain open, protecting 181 jobs. The business' central warehouse and head office in Bradford will also transfer to the new owners.
A remaining 22 stores will close immediately, with the loss of 88 jobs.
Adrian Berry, one of the joint administrators, said: "This sale represents the best outcome for the business, which has been trading in administration for over six weeks.
"A significant proportion of the employees now have their jobs protected and we would like to thank all of them for their support during this difficult period."
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