Collapsed fashion chain Peacocks has been rescued by a former executive, five months after it went into administration.

Last autumn, Peacocks in the Isaac Newton Shopping Centre and sister outlet Bonmarche in High Street announced closing down sales, as previously reported by Nub News.

Peacocks, once owned by Philip Day's Edinburgh Woollen Mill (EWM) group, is the last of the fashion empire to be saved, following Marks & Spencer buying Jaeger earlier this year.

A top executive with support from international investors has rescued the chain, saving 200 stores and 2,000 jobs, national media report today.

Edinburgh Woollen Mill, Ponden Home and Bonmarche were rescued from administration in the New Year, in a deal with a group of investors known as Purepay Retail.

The move followed EWM Group filing for administration last autumn, putting 24,000 jobs at risk.

While most Edinburgh Woollen Mill and Ponden Home stores have been saved, 119 shops have closed permanently, affecting around 500 staff.

With Bonmarche, the Purepay deal saw 72 stores protected and the remining 148 still under review.

M&S, who bought Jaegar earlier this year, will keep the brand as an online operation, closing the stores and cutting 233 staff.