More than 150 jobs have been saved after four discount department stores were bought out of administration - but 80 jobs have gone with the closure of five smaller shops.
The four TJ Hughes Outlet stores were bought by management in a pre-pack deal after parent company Lewis鈥檚 Home Retail went into administration last week.
The stores that have been saved are in Coventry and Nuneaton in the Midlands, Birkenhead in Merseyside, and Oldham in Greater Manchester.
The five stores that have closed are in Chelmsford, Chesterfield, Colindale, Harlow and Sheffield.
Two stores were saved from administration last month after a deal was struck with landlords.
The business got into difficulties citing the changing nature of high street retail.
Only this week Intu, which owns some of the country鈥檚 biggest shopping centres, saw its shares plummet after it abandoned plans to raise up to 拢1.5bn from shareholders to pay off massive debts and secure its future.
The owner of Manchester's Trafford Centre and Lakeside, in Essex, said 鈥渆xtreme market conditions鈥 had put off investors.
The value of the business has more than halved since Monday.
Meanwhile retail giant John Lewis Partnership is paying out its lowest staff bonus since 1953 - and has warned of store closures after revealing a 23 per cent drop in profits.
The group, which has a department store in Highcross, Leicester, and a landmark branch in London鈥檚 Oxford Street, is cutting its staff bonus for the seventh year running - to 2 per cent of annual salary - after underlying pre-tax profits fell in the year to January 25.
Situl Raithatha and Deviesh Raikundalia, from the Leicester office of Springfields Advisory LLP, said they completed the sale of the four TJ Hughes Outlet stores after being brought in as joint administrators of Lewis鈥檚 Home Retail last Friday.
They said that immediately upon appointment the businesses were sold through a pre-pack sale to LHR Holding Limited and the staff were transferred as part of the transaction.
Liverpool-based LHR Holding owns 18 TJ Hughes branded department stores nationally, as well as the tjhughes.co.uk website, none of which are not affected.
Mr Raithatha said: "Sadly failures on the high street are all too common place.
鈥淭he sector has seen significant structural change and the environment continues to be challenging.
鈥淲e are pleased to have completed the sale which has helped secure the future of a significant proportion of the workforce.鈥
