Chicken entrepreneur Ranjit Boparan has agreed a deal to take over FishWorks on the day the fishmonger and restaurant chain entered administration.
Boparan, the owner of the poultry supplier 2 Sisters, takes over four of the restaurants but a further six locations remain in the hands of administrators PricewaterhouseCoopers and will now close.
Boparan secured the deal after outbidding FishWorks executives Paul Goodale and Stephen Easthope, who had planned to keep the whole chain open.
"We are making a significant investment because we absolutely believe in the business and we believe in the brand," said Boparan. "We are in this for the long-term and are confident that our established expertise in tandem with the talents of the FishWorks team will give us a stable platform for continued growth."
FishWorks filed for administration after seeing its losses treble in the last year to £5.5m.