A CHAIN of popular high street fashion stores is looking forward to a prosperous new year after it was taken over.

Tucci, which has stores in Gateshead's MetroCentre, Grainger Street, Newcastle, and The Bridges, Sunderland, was taken over by Pencil Snap Limited just before Christmas.

The stores, which were previously owned by Capi Limited, briefly went into administration before they were taken into the ownership of a new joint venture company formed by two sets of brothers with experience in retail clothing.

Eric and Cyril Williams, owners of Box Clothing Company, which is based in Teesside and has stores in Middlesbrough, Redcar, Darlington and Hartlepool, formed Pencil Snap with former Capi directors Tullio and Giancarlo Petrucci.

The company has safeguarded the jobs of the 150 employees of Capi. In addition to its Tucci stores in the North and at the Meadow- hall shopping centre, in Sheffield, Capi also operated the Leftfield and Aston stores in the MetroCentre.

The Box Clothing Company employs 45 people in its Tees Valley outlets.

Pencil Snap finance director Eric Williams said: "We are delighted to have been able to form a joint venture company that secures the jobs of the employees of Capi Limited.

"The Petrucci brothers have invaluable knowledge of their business and in this transition stage of its ownership, they are ensuring that the shops continue to operate smoothly and with the minimum of disruption."