Coronavirus: TM Lewin to shut all UK outlets

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Shirts on a rackImage copyright Getty Images

About 600 staff will lose their jobs after shirtmaker TM Lewin introduced it should shut all 66 of its UK outlets.

The agency stated most of its 700 staff can be laid off because it takes all of its gross sales on-line, to assist lower prices.

It comes weeks after a personal fairness firm purchased the model with plans to restructure it.

Many retailers have introduced lay-offs throughout the coronavirus pandemic, with furnishings chain Harveys additionally revealing cuts on Tuesday.

Founded in Panton Street, London, in 1898, TM Lewin sells shirts and fits at outlets throughout the UK.

All its shops shut when lockdown started, however none reopened when restrictions had been eased earlier in June.

Torque Brands, a subsidiary of Stonebridge Private Equity, purchased the enterprise in May. On Tuesday it stated it had struck a deal to keep away from administration.

In a press release, Torque stated all the retail sector was dealing with a “very real threat”.

“The Torque team has worked to assess all available avenues for the business model going forwards, but having done so, has formed the view that TM Lewin is no longer a viable going concern in its current format,” it stated.

“The decision to significantly reduce the scale of the business in order to preserve its future will regrettably result in job losses at TM Lewin, as a direct result of the closing of the store network as we right-size the business.”

Lockdown hunch in demand

Retailers, lots of which had been struggling even earlier than the pandemic, have been hit laborious as client demand has slumped in latest months.

Shoemaker Clarks has stated it should lower 700 jobs and Mulberry is planning about 500 cuts. Oasis and Warehouse have gone into administration, placing 1,800 jobs in danger and resulting in 200 quick cuts.

On Tuesday, furnishings chain Harveys and Bensons for Beds each known as in directors.

Harveys is searching for a purchaser for about 20 shops and three manufacturing websites, whereas Bensons – Britain’s second-largest beds retailer – will shut round 50 of its 175 retailers.

The companies, that are owned by the identical dad or mum firm, have made 240 quick job cuts and an extra 1,300 positions are below overview.