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TM Lewin's Australian business owes approximately $10 million to around 70 creditors, according to administrators from EY, who held the first meeting of creditors on Monday. Most of that debt, approximately $8.6 million, is owed to TM Lewin-related entities in the UK, where the British suitmaker's owner, Torque Brands, is based..
TM Lewin sold to group seeking to build British brand portfolio
EY has taken on the administration process. T.M. Lewin is a British online menswear retailer. It was started in 1898 by Thomas Mayes Lewin who opened his first shop on London's Panton Street. By 2011, TM Lewin had 100 UK stores and outlets, and one year later it launched its first overseas store (excluding Dublin) in Sydney, Australia.
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TM Lewin, a 122-year-old men's suiting brand, was also affected by the shift to remote working, which drastically reduced demand for its suits, shirts and ties and decimated foot traffic in CBDs, where its five Australian stores are located.
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3,473 Followers, 6 Following, 115 Posts - See Instagram photos and videos from T.M.Lewin Australia (@tmlewinaustralia) 3,473 Followers, 6 Following, 115 Posts - See Instagram photos and videos from T.M.Lewin Australia (@tmlewinaustralia) Something went wrong. There's an issue and the page could not be loaded..
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Matthew Elmas July 3, 2020 A T.M. Lewin store in the UK. Source: Facebook Apparel retailer T.M. Lewin Australia collapsed into voluntary administration on Thursday, days after its UK parent announced a restructuring deal that will see all its stores close indefinitely.
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TM Lewin goes into voluntary administration Daily Mail Online
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Administrator EY could reopen TM Lewin Australia’s Brisbane store The CourierMail
TM Lewin Australia employs about 40 people, in Melbourne, Sydney and Brisbane. It has three local stores, located in the CBD and Chadstone.
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T. M. Lewin Shirtmaker, [1] commonly known as TM Lewin, is a British online menswear retailer. It was started in 1898 by Thomas Mayes Lewin who opened his first shop on London's Panton Street and later moved to Jermyn Street, renowned as a base for formal shirts.