TM Lewin enters administration, closes all 66 stores

British menswear retailer TM Lewin is to permanently close all 66 of its stores after falling into administration, resulting in 600 job losses.

The company’s assets have reportedly been bought back by its owner Torque Brands through a pre-pack deal which doesn’t include its store estate, The Telegraph reports.

Torque Brands is a vehicle set up by private equity house SCP which acquired TM Lewin for an undisclosed sum last month in a move which resulted in the retailer’s CEO Sven Gaede stepping down.

Photo credit: TM Lewin, Facebook