Majority of TM Lewin stores could reportedly close as part of pre-pack

The “vast majority” of TM Lewin’s 66 stores could reportedly close as part of a potential pre-pack administration deal.

The British menswear retailer’s new owner, SCP Private Equity, has hired restructuring firm ReSolve to pivot the retailer’s focus to online, streamline its store estate, and negotiate rent cuts with landlords, according to The Sunday Times.

SCP Private Equity 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