The company, set up by former directors of the collapsed Land of Leather chain, has been saved by "similar" management team to trade under the new Riverview Furniture name.
World of Sofas, run by four former directors of collapsed furniture chain Land of Leather, entered administration last month after just two years of trading.
However, the 12-strong retail chain, which was formed by Land of Leather Ltd's Steven Dowdall, Peter Ling, Brian Neilly and Paul Briant at the end of 2008, appears to have been saved again by an almost identical management team after appointing administrators last month.
According to The Sun, Berley Chartered Accountants, who is handling the administration, confirmed that a new company had bought World of Sofas' "assets, stock and nine stores" for £350,000.
The retail chain's website also now details Riverview Furniture as principal trading company, while the firm appears to have closed at least two of its UK stores, with outlets in Cardiff and Aberdeen no longer listed on the site.
Newly-formed Riverview, which was incorporated on January 24 of this year - a matter of weeks before World of Sofas entered administration in February - lists Mr Dowdall, Mr Neilly and Mr Briant as directors.
A story by Furnishing Report also revealed that Berley's Mark West explained the business had "been sold to a group of individuals, similar to those involved with the prior company".
This morning Berley Chartered Accountants would not confirm any reports.