General Trading Company, which went into administration last month (July 18), has been bought by the management of former gifts and homewares retailer Mortimers and will relaunch in the autumn.
The iconic Chelsea department store, which has three Royal Warrants, will trade under new ownership from Wednesday.
The deal includes the acquisition of certain General Trading Company assets from administrator MCR.
Mortimers was founded by Caroline Stacpoole. The original Mortimers store was located on Neal Street in London’s Covent Garden selling high quality gifts and homewares. The store was sold in 1997.
General Trading Company will reopen on Wednesday with existing stock lines, but will relaunch in autumn. The store will feature British designers and British-made products, while keeping its traditional items and oriental furniture.
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