The struggling British menswear retailer The Officers Club was in new hands today after a deal which saved more than 900 jobs.

The chain was put up for sale by auditors PricewaterhouseCoopers after being put into administration yesterday. Business had been suffering during the economic downturn.

A new company backed by David Charlton, chief executive of The Officers Club, has taken on 118 of the firm's 150 stores. But the remaining 32 stores will close immediately.

The Times, The Independent