70’s children’s TV show Bagpuss may hit our screens once more after the rights to the character were sold in a £400,000 deal.

Coolabi plc announced it has bought Licensing By Design, who own the rights to Bagpuss and The Clangers.

Coolabi have stated that Bagpuss in particular has “significant potential” for development, reports The Guardian.

“Bagpuss is regularly voted the nation’s favourite children’s television character, despite only 13 episodes of the series ever being made and, as such, there is significant potential to build on the affection in which this classic brand is held,” the firm said in a statement.