A group of investors including Ethel Austin owner Elaine McPherson has bought Blooming Marvelous from administrators MCR.

The maternity retailer has been bought by the group led by McPherson for an undisclosed sum.

McPherson said: “This is a great opportunity to acquire what is still, despite recent trading difficulties, a strong and well-recognised brand. The new management team have huge experience in retail, direct and product sourcing, and we intent to work with the existing staff to ensure that Blooming Marvellous returns to being a market leader in the sector.”

The group, which also includes Mike Basso and Jim McDowell, has formed Blooming Marvellous Ltd. to continue to trade the brand on the high street. McDowell will take over as managing director at the company.

The retailer was placed into administration at the end of January after Icelandic investor Arev pulled funding from the 14-strong chain amid home-grown problems in the banking sector.

The investor first bought the chain along with a number of other retail investments in 2007.

Before the business was placed in administration it had looked hopeful that the brand would be bought by one of six parties understood to be interested, but MCR was called in after talks collapsed across the board.

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