TM Lewin, the notable British menswear retailer, could return to the UK high street after being bought out of administration by its main lender – understood to be Petra Group.
However, it is not still clear if the Group’s 50 employees will be kept under the rescue deal for the shirtmaker.
Notably, TM Lewin had called administrators in March 2022 – which was second such instance in two years.
TM Lewin first fell into administration in June 2020 after pandemic hit the sales of the retailer that majorly sold shirts, suits and coats.
Will Wright, Head of restructuring at Interpath Advisory and joint administrator to TM Lewin, said “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.”
Founded in 1898, TM Lewin started out making shirts but later started selling suits, outerwear, knitwear, jackets, chinos, ties and accessories for men.
