Henri Lloyd is to be brought out of administration by a company called Aligro UK Limited, breathing new life into the nautical clothing brand.

However, 128 jobs will be lost and stores in Falmouth, Truro, Street and Swindon will remain closed, along with 20 House of Fraser stockists and their headquarters in Manchester.

It will continue to trade from stores in Salcombe, Dartmouth, Cowes, Cheshire Oaks and Lymington, according to website Retailsector.co.uk.

The stores kept open will save 38 jobs, while six head office roles will also be retained.

RSM Restructuring Advisory were brought in on June 8 to oversee the administration process at Henri Lloyd.

Chris Ratten of RSM Restructuring Advisory said: “This sale represents the best outcome for creditors, it maintains Henri Lloyd’s presence in key locations and secures 44 jobs.

“Selling the whole business as a going concern was not a viable option and regrettably a number of staff have been made redundant as a result. We will be supporting them to make their claims to the Redundancy Payments Office.”