TM Lewin, a historic British menswear brand founded in 1898, has made a comeback to the high street after a five-year absence. The company, known for its quality shirts, faced significant challenges during the Covid pandemic, leading to its first administration in mid-2020. This resulted in the closure of all 66 stores and the layoff of 700 employees.
After being rescued by Torque Brands, TM Lewin entered administration again in 2022 but was saved by TM Lewin Shirtmaker Limited, backed by its primary creditor, Petra Group. Following a brief revival of its online presence, the brand has now opened a new flagship store on Bow Lane in London, marking its return to physical retail.
Dan Ferris, the managing director, expressed enthusiasm about the new store, emphasizing the brand's commitment to connecting with a younger audience that appreciates tailored menswear. He highlighted the goal of providing a personalized shopping experience that complements their online offerings.
Despite its storied history and a portfolio of over 150 shops before the pandemic, TM Lewin's financial situation remains concerning. Recent records show a significant increase in debt, rising from £24.6 million to £33.8 million in the latter half of the previous year.
In a related development, Cath Kidston, another iconic British brand, has also returned to the high street. Known for its vintage styles, the brand reopened a London location in October 2023 after closing all stores in June 2023 due to its own administration issues. The brand's revival was facilitated by private investment firm Baring Private Equity Asia, which sold it to restructuring firm Hilco Capital in 2022. Next acquired the brand's name and intellectual property for £8.5 million, although this deal did not include physical stores.
Both TM Lewin and Cath Kidston's returns signal a hopeful trend for the British retail sector, as these brands aim to reconnect with loyal customers and adapt to modern shopping preferences.