Big names line up to buy TM Lewin out of administration
A selection of major names are interested in acquiring TM Lewin, the shirts and formalwear specialist that's currently in administration for the second time. A report said potential buyers include Frasers Group, M&S, Crew Clothing and Charles Tyrwhitt.
The Times reported that the companies have an interest in buying the brand and are accessing further information about it from the administrators.
None of them are surprising. Frasers is well known for taking on struggling brands and investing in them, particularly those that have a strong name and a good reputation. Meanwhile M&S has dived deeper into third-party brands of late and is currently expanding its Jaeger brand that it acquired in 2021. TM Lewin could be a good complement to this label.
Crew Clothing's owner also controls Moss Bros, which has obvious synergies with TM Lewin. And Charles Tyrwhitt operates in exactly the same market as the brand.
TM Lewin is almost 125 years old and pre-pandemic had a successful omnichannel business, operating more than 150 stores worldwide.
However, its owner Bain sold it just before Covid hit with Torque Brands buying it in April 2020 and putting it into administration shortly afterwards. It then made the brand online only, but filed for administration again this month as the pressures of the pandemic proved too much.
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