The deal, with the existing management team, includes 89 stores, protecting 1,184 jobs, but will see 39 stores and 14 concessions closed.
Last month, around 1,600 jobs were lost after attempts to find a buyer for Barratts’ concessions business failed, but this did not affect the stand-alone stores.
The company went into administration last December after unseasonably mild weather further exacerbated already difficult trading conditions.
Chief executive Michael Ziff said “I am delighted that we have been able to conclude this deal and save as many jobs as we have.”
Mr Ziff, chairman of Barratts’ parent company Stylo, bought 160 shops from Deloitte after Barratts and Priceless went into administration in 2009.