TM Lewin falls! Two years since it was brought out in a pre-pack deal, the British online menswear retailer has fallen into administration.
This has now put around 49 jobs at risk. Back in June 2020 also, the retailer had hit 600 jobs after it had shut down its stores as a part of a pre-pack administration.
It is important to mention here that Will Wright and Chris Pole (from Interpath Advisory) have been appointed as joint administrators of TM Lewin.
Though all pandemic-related restrictions were lifted earlier this year, the cumulative impact on retailer’s cash flow was such that, after exploring options for the business, the decision was taken to put TM Lewin into administration.
Will Wright, reportedly, said that the first priority will be to explore options for the business that would include sale of the business and its assets.
The menswear brand, founded in 1898, is known for its shirts, suits, jackets, ties and chinos, amongst others.
Also Read: British menswear retailer TM Lewin’s unsecured creditors owed around £30.4 million
