A 127-year-old Lancashire textiles firm, which collapsed will be sold to its former manager, saving 49 jobs.
Rossendale-based JH Birtwistle & Co, axed 53 of 102 workers when it went into administration in April.
Administrators Begbies Traynor confirmed the remaining jobs would be saved as it had accepted an offer for the £7m-turnover company.
The textile firm's former manager Peter Heaton said he hoped the deal would be completed by the end of May.
John Lewis Partnership owned JH Birtwistle until 2007 when it was sold to Apex Textiles.
JH Birtwistle was established in 1882 and weaved fabrics for home furnishings.
It went administration after textile printer Carlisle-based Stead McAlpin & Co, one of its main customers, collapsed.