Family business Berkowitz Furniture has acquired collapsed Melbourne-based homewares retailer Fenton & Fenton rescuing it from liquidation.

Plans are underway to reopen the retailer’s physical stores and e-commerce operations later this year.

Founder Lucy Fenton will be retained by the new owners as creative director to maintain the brand’s integrity, Berkowitz Furniture CEO Peter Berkowitz said.

He added that the new partnership will ensure the boutique furniture and homewares brand continues to provide its own unique style to Australian homes and the acquisition aligns with Berkowitz’s strategy to diversify its portfolio.

Berkowitz said he is “delighted” to continue Fenton & Fenton’s story given how much support the company has nationally.

“We bring five generations of experience to this new partnership, along with the trust we have earned here in Melbourne over more than a century.

“We know what this design institution means to so many people and we are dedicated to preserving its unique, colourful identity and independence.”

Lucy Fenton said she is “extremely grateful” the brand has been saved. “This has been an extremely challenging time for the business, our customers, staff and suppliers and I am pleased to have found a solution that enables us to continue into the next chapter.”

Supporting current Fenton & Fenton customers, the Berkowitz family will fulfil orders where possible and gift cards will be honoured with some conditions.