French women's ready-to-wear retail group Beaumanoir has been given the go-ahead by a Paris court to acquire fashion label Morgan, which went into administration last December.
 
The value of the transaction has not been disclosed.
 
Beaumanoir described Morgan as "a jewel of French fashion wear" adding that the "independence and identity of  its structures will be respected".
 
Employing more than 5,000 staff, the St Malo-based group has around 1,250 outlets under the Cache Cache, Patrice Bréal, Scottage and Bonobo names, and posted a 2008 turnover of EUR640m (US$867m).
 
Morgan employs 1,000 staff, of which 600 are based in France. Its 2008 turnover was approximately EUR140m, down 9% on the previous year.

By Stuart Todd.