85
Fashion Jobs
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
PUMA
Key Account Manager, Marketplace E-Com
Permanent · HO CHI MINH CITY
ON RUNNING
Head of Footwear Sourcing
Permanent · HO CHI MINH CITY
Published
Jun 29, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

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

Published
Jun 29, 2020

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 © 2024 FashionNetwork.com All rights reserved.