The Miss Etam and Promiss high street fashion groups are to be relaunched with the help of a consortium of new investors from the retail sector, the official receivers of the Etam Group say.

The Etam Group was declared bankrupt in April but talks began immediately with a number of potential investors on a restart.

All the 200 shops, with a combined workforce of some 2,000, will remain open while the final details are being worked out. The receivers hope the deal will be completed by mid-May.

A spokesman declined to give further details but said it is clear the company will have to undergo a major reorganisation.