Independent fashion retailer Coggles has been bought by ecommerce group the Hut, according to clothing industry magazine Drapers.
The upmarket retailer, which has spent the last few years expanding the business online and sells brands including Vivienne Westwood, Marc By Marc Jacobs, Religion and Barbour, was placed in administration on May 7.
The magazine said on its web site that neither party has confirmed the deal officially but a source confirmed the rescue. It is thought the deal was completed in the past two days.
Prior to its collapse Coggles had been seeking about £4 million to continue its growth after raising £3 million in 2011 from Manchester Square Enterprises, a subsidiary of brands group Pentland.
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