Indian textile company S Kumars Nationwide has been identified as the buyer of fashion chain Internacionale, which was put up for sale after its parent collapsed earlier this year.

S Kumars Nationwide, based in Mumbai, bought the firm for an undisclosed price according to The Herald newspaper, in a move that has saved almost 900 jobs.

The firm also owns cashmere maker Reid & Taylor, which it bought in 1997.

Ossian Retail Group, which owned Internacionale and its sister company Au Naturale, sold its GBP25m (US$49.8m) debt to investment company Agilo last month amid rumours the group was to be broken up.