Melbourne-based menswear chain, Man to Man, has been sold to a group of investors including local and overseas interests for an undisclosed sum, less than two months after being placed in voluntary administration.

Ferrier Hodgson partners, James Stewart and Brendan Richards, were appointed voluntary administrators of Toman Investments and Man to Man on December 17.

Established in 1981, Man to Man has 62 stores in Australia following the closure  of 20 stores by administrators earlier this month.

All 62 stores will be transferred to the new business owners as well as the company’s 242 employees.

The majority of Man to Man stores are located in regional and supermarket based shopping centres, mainly in Victoria, NSW, and Western Australia.

Alex Hampel, the original founder of Man to Man, will be employed as the CEO.

Administrator, James Stewart, said he was pleased with the outcome of the sales process, particularly in what can only be described as a challenging retail market.

“We are particularly delighted to have secured the transfer of 242 employees across 62 stores to the new business owner.”