Anna Spicknell bought the Fleckney nursery in Leicester for the nominal fee debt-free.
Last month the owner, Robert Shannon, who runs the Pebbles nursery group, closed another nursery in Uppingham, Rutland.
It was reported that Mr Shannon thought that the Uppingham nursery, which catered for 50 children, was no longer financially viable and had made a loss for the past two years.
Ms Spicknell told Nursery World, 'The owner gave me a letter to give to the parents giving them one week's notice of closing the nursery. I thought it was a shame to do that - it's been going for 20 years. I said, "Is there any way we can keep it going? How much do you want for it?" And he said I could have it for a pound if I took it off his hands.
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