Retail chain buys General Trading Company

London department store The General Trading Company, which went into administration last month, has been sold as a going concern to an unnamed upmarket retail chain.

Paul Clark, partner at restructuring firm MCR, said: "Not only have we managed to preserve an historic reputation associated with the store, we've also been able to preserve the majority of jobs in the company, with 19 staff retaining their positions." Founded by the Part family in 1920, the General Trading Company was one of London's first boutique home stores to sell soft furnishings, interior décor and glassware, as well as clothing and accessories. The retailer has three royal warrants including one from the Queen.