TM Lewin sale agreed


TM Lewin sale agreed

The joint administrators of TM Lewin, Will Wright and Chris Pole from Interpath Advisory, have concluded a sale of the business and assets to TM Lewin Shirtmaker Limited, a company owned by the incumbent lender.

Founded over 120 years ago in London, TM Lewin is one of the UK’s most famous tailoring and menswear brands. It fell into administration in March 2022. This saw the closure of  66 stores and the loss of hundreds of associated jobs as the formal menswear sector was severely impacted by Covid-19 as business travel, in-person meetings and office working was replaced by the work from home migration to virtual meetings.

Will Wright, head of Restructuring at Interpath Advisory and joint administrator said: “Following a great deal of interest, we’re pleased to have achieved this sale which secures the future of this famous British retail brand. We understand the new owners will be relaunching the online trading platform over the coming weeks and, in the longer term, are considering the possibility of opening new high street stores. We wish them all the best for the future.”

It is understood that 22 of the original staff are being transferred to the new entity.

 

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