Mark Brafman has bought value fashion retailer MK One out of administration for an undisclosed sum as predicted by Retail Week magazine on May 23.

The former MK One director and shareholder has bought 100 out of the 172 store-chain and is understood to want to continue to run the business as a going concern.

Administrators Deloitte will continue to explore options for the remaining stores, which will continue to trade as MK One.

MK One went in to administration last Wednesday after former owner Baugur sold the business to Hilco for£1 on May 2.

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