TM Lewin,UK goes into administration

22 March 2022, Mumbai:

TM Lewin is on the verge of collapsing! The British online menswear company has gone into administration two years after it was launched in a pre-pack transaction.

Around 49 jobs have now been jeopardized as a result of this. The business also lost 600 employees in June 2020, after closing its outlets as part of a pre-pack administration.

Will Wright and Chris Pole (from Interpath Advisory) have been named joint administrators of TM Lewin, which is crucial to note.

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Despite the fact that all pandemic-related limitations were lifted early this year, the cumulative impact on the retailer's financial flow was such that, after considering all possibilities, the decision to place TM Lewin into administration was made.

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Will Wright is believed to have stated that the company's first priority will be to examine options for the company, including the sale of the company and its assets. Shirts, suits, jackets, ties, and chinos are among the items offered by the menswear label, which was founded in 1898.

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CREDITS: The Guardian & Apparel Resources.