Plymouth's House of Fraser store will remain open, despite being earmarked for closure under the original CVA restructuring deal.
The new owners of the department store group have agreed terms to remain in Plymouth's Royal Parade, safeguarding 82 jobs.
House of Fraser went into administration earlier this month and was bought shortly after by Sports Direct owner Mike Ashley.
The announcement to keep the Plymouth chain open comes after a collaboration with the new owners, the City Council and building owners British Land.
A number of deals have been agreed this week on the future of several other chains across the country.