Dragon’s Den star Theo Paphitis has set aside 1,000 jobs at his lingerie chain Boux Avenue for the staff of rival La Senza, as reported in The Mirror.
Paphitis formerly owned a major stake in the company, which he sold to Lion Capital in 2006 for a rumoured £100 million.
The company announced that it was heading into administration, last month, and is set to sell of 81 of its 146 stores.
Paphitis reportedly aims to have 30 Boux Avenue branches by 2013, a plan that has been encouraged a successful Christmas trading period.
His current eight stores eight stores are located within the UK, but he has not ruled out international expansion.
On discovering that La Senza would be going into administration, Paphitis tweeted: “Just heard sad news that @LaSenzaUK which was once my baby has filed for Administration. Happy with new baby@BouxAvenue but still SAD!"