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T.M. Lewin to close all UK stores


Britain-based menswear brand T.M. Lewin will close all its stores permanently. The brand will remain on the online sphere, its restructurer said on Tuesday

With this announcement, the 66 stores will close and 600 staff will be made redundant. The online business will continue, as it was sold to Torque Brands, an acquisition arm of Stonebridge Private Equity, in a pre-pack administration: “We are pleased to have been able to save the online business of this great British retail brand at a time when the High Street is experiencing such difficulties and many brands may disappear completely”, stated Cameron Gunn, Senior Partner at restructuring firm ReSolve.

Founded in 1898, the menswear retailer had been bought by private equity firm Stonebridge Capital Partners from Bain Capital. The lockdown of all non-essentials stores imposed in the UK from late March until June combined with working from home policies had a massive impact on the business.

 
 
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