Smiffys has been snapped up in a pre-pack deal to US gifts and fancy dress specialist Ad Populum.
PwC, which was appointed as administrator, completed the sale of the fancy dress retailer, which has stores in Leeds, Liverpool, Newcastle and Oxford.
The Leeds based business, which has been running for more than 100 years, saw its financial performance significantly impacted by the pandemic, which led to a drop in demand for its costume and party products.
Ad Populum owns various US brands including National Entertainment Collectibles Association, Wizkids, Kidrobot and costumes company Rubies II.
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PwC partner Jane Steer said: “Smiffys is a popular brand that has been operating in one form or another since 1894, but sadly, like many other retailers, it was impacted by the after effects of the pandemic.
“The buyer, Ad Populum, will add Smiffys to its comprehensive range of brands which includes extensive experience of the fancy dress and toy markets.”
The administration follows a slew of collapses across the retail industry in recent months, including fashion website Matches, Ted Baker and The Body Shop.
Over the weekend, it emerged that private equity firms Gordon Brothers, Alteri Investors and Modella Capital, which is part of private equity house R Capital, are among those eyeing a possible rescue of The Body Shop, which collapsed in February just three months after fellow private equity giant Aurelius agreed to a £207m deal to take control.
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