The Real Greek restaurant chain has been rescued from the brink of collapse after the owners of Cote Brasserie stepped in to buy 19 of its 28 outlets.
The Real Greek's owners had announced they planned to appoint administrators for the Mediterranean restaurant business.
However, Karali Group, which late last year bought the 70-strong Cote Brasserie chain, has made an offer for most of the smaller operator's sites.
A statement on behalf of The Real Greek's parent company, Fulham Shore, said 358 out of 509 jobs would be saved.
The Japanese restaurant group Toridoll, which owns Fulham Shore, had said on Friday that it planned to appoint administrators, raising fears the chain would close altogether.
