The troubled Adelaide retailer, Trims, has found a buyer after being placed in liquidation in June.

Trims, which has traded in King William St on the edge of Adelaide’s CBD since 1937, owed almost $4 million.

Its undisclosed buyer intends to take over the Trims business name and trademark and is set to relaunch it in the near future.

Trims will start a three day liquidation sale on Friday, said liquidator Andre Strazdins of BRI Ferrier.

“The new owner is planning to relaunch the business in the near future and has decided not to take the existing stock,” he said.

Strazdins described the administration and liquidation negotiations as “complex”, with 37 different stock suppliers owed.

Trims had three stores at the height of its business.

It closed its second last store in Adelaide’s suburban Marion two weeks before its administration was announced in mid-May.