×
74
Fashion Jobs
CONNECTEDGROUP LTD
Senior Manager, Corporate Real Estate And fm (Apac - hk Based)
Permanent · HONG KONG
I.T.
Business Analyst - Warehouse (Sap - Wms)
Permanent · Hong Kong
PUMA
Business Analyst (Digitalization Project)
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Assistant Finance / Accounting Manager - Apac Tax
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
E-Commerce Manager
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Head of Brand Management - Home Products
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Buyer - Luxury Home Furniture
Permanent · Hong Kong
CONNECTEDGROUP LTD
Senior Manager, Corporate Real Estate And fm (Apac - hk Based)
Permanent · HONG KONG
BESTEAM PERSONNEL CONSULTANCY LTD.
Sales Administration Coordinator
Permanent · BIRMINGHAM
CONNECTEDGROUP LTD
Senior Manager, Facilities Management / Cres (Apac - hk Based)
Permanent · HONG KONG
EASTWOOD CONSULTANTS LIMITED
Regional Digital Marketing Manager, Luxury Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Accounting Manager - Luxury Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Senior Administration Manager, Retail
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Regional Assistant HR Manager, c&b
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Assistant / Marketing Manager - Mnc
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Regional Planner - Global Mnc Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Assistant Buying Manager
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Senior Finance Manager - Global Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Regional Marketing Manager - Base China
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Assistant Accounting Manager - Global Brand
Permanent · Hong Kong
EASTWOOD CONSULTANTS LIMITED
Regional Merchandising Manager - Luxury Menswear
Permanent · Hong Kong
ESTÉE LAUDER
Vice President, Marketing, Estee Lauder, Asia Pacific
Permanent · Hong Kong

TM Lewin could see pre-pack deal to achieve store closure aims

Published
Jun 29, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

As the new owners of TM Lewin continue to seek new deals for its retail stores, a report has suggested the company could consider a pre-pack administration in order to allow it to close as many of the shops as possible.


TM Lewin



The company is believed to be talking to restructuring firm ReSolve and a newspaper report claimed that while it had been planning to keep a handful of stores open, its thinking now is that TM Lewin will be a mainly online brand.

The company was acquired last month by SCP Private Equity, whose execs include James Cox, ex-Harrods MD Paul Taylor and ex-Asda CEO Allan Leighton. They see it as the starting point of a portfolio of typically British brands that will sell well internationally.

The menswear retailer, which was profitable in the last year for which we have results (the 12 months to February 2019) has 66 shops in the UK at present.

It was bought from Bain Capital in May and the deal included all the shops, which seemed like a positive move at the time. But in mid-June, it emerged that the new owner was telling its landlords that most of its shops could be shut if they didn't offer attractive rent deals.

There was talk at the time of a pre-pack administration if landlords didn't play along, but that was seen as a way to achieve rent cuts. The story as reported by The Sunday Times now suggests that SCP's intentions may have evolved and the aim is to keep only a few stores open regardless.

If that's the case, it would make the venerable brand only the latest in a series of labels that have become either digital-first or digital-only as a result of the coronavirus crisis. 

Prominent among them is Hotter Shoes, which is aiming to boost its online operations and close the majority of its stores. Meanwhile Oasis and Warehouse have seen all their stores closing permanently as they become part of the Boohoo Group and online-only brands, like former portfolio-mates Karen Millen and Coast before them. 

Copyright © 2020 FashionNetwork.com All rights reserved.