Falling demand for smart menswear throughout the past two years has caused TM Lewin’s directors to take the decision to place it in administration. The once thriving upmarket menswear retailer was originally established over a hundred years ago and had migrated to online only trading in 2020.
Interpath Advisory’s Will Wright and Chris Pole have been appointed as joint administrators and are exploring options for the business.
Wright commented: “Over the course of the pandemic, men’s apparel – and formalwear in particular – has been one of the hardest hit parts of the retail sector, as work-from-home measures and restrictions on events meant demand for suits and formal tailoring waned. Unfortunately, and despite the company undergoing a significant restructuring at the start of the pandemic which saw it move to an online model, the impact on this famous British brand has been severe.
“Our immediate priority is to explore options for the business, including a sale of the business and its assets.”
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