The pair acquired it under two new vehicles, Crepe Union and Crepe Trading, with seven UK sites remaining open as part of the deal.
It comes after Brian Burke and Ellias Paorou of Quantuma Advisory were appointed joint administrators to the casual dining brand on 13 January.
The seven sites transferred over to the purchasers are: Brighton, Bromley, Cambridge, Islington, Leeds, Newcastle, and St Albans.
Two further sites in Chester and Westfield London shopping centre have been closed.
An administrators’ report reveals how the pandemic, on top of inflation and interest rate hikes, led to the company’s trading results being severely below pre-Covid levels.
With sales and income effected, it halted further expansion plans and in turn had to find working capital and secure interest payments to long-term creditors.
In 2024, Crêpeaffaire posted a significant loss and had net liabilities of £1.5m, with 2025 also set to be loss-making.
The company reported a loss of £159,000 in 2023, and £578,000 in 2022. To mitigate the challenges, the directors reduced head office staff and costs, revised opening hours, and reduced discretionary spending.
The directors also invested additional funds of £360,000.
Quantuma Advisory were recruited to provide financial advice and assess options, and on 3 December were instructed to assist in placing the group into administration.