A joint venture between two unnamed US-based clothing companies has bought the worldwide intellectual property rights and trademarks of fashion group Coogi.

Administrator George Georges, of Ferrier Hodgson, said the two US firms had created a new company, Coogi Partners LLC.

The Coogi knitwear firm was placed in voluntary administration in July owing more than A$25 million (US$14.02 million).

A worldwide auction of its manufacturing equipment and assets will be held on 27 and 28 November.