Sale process begins for heritage tailor Gieves & Hawkes

Savile Row’s Gieves & Hawkes may finally be up for sale according to reports, less than a year after the brand’s owner, Trinity Group, went into liquidation.

According to The Telegraph, the process is being run by FTI Consulting in both Hong Kong and the UK and is expected to be completed later this year, however the publication noted that there was no definitive deadline.

It comes as its Chinese owner, which is operated by Shandong Ruyi Technology Group, failed to find a buyer for the British heritage brand, with the firm stating at the time that it was assessing its financial position and “considering the opportunity of a possible restructuring”.

Finding a buyer for Churchill’s tailor

In November 2021, Gieves & Hawkes, together with its sister brands Kent & Curwen and Cerutti, were confronted with a winding-up order, after which Shandong appointed liquidators.

Marks & Spencer were among the rumoured retailers potentially looking into a takeover deal.

According to Companies House filings, Gieves & Hawkes secured a credit facility for an undisclosed amount from Hilco, a restructuring specialist.

A report by Bloomberg stated that advisers have started to formally solicit bids this week for the 250-year-old brand, with the sale to include its UK business and Greater China operations and licensing agreements.

Its history dates back to as late as 1771, when the company was founded by Thomas Hawkes. Initially starting out as a military tailor, the shirtmaker eventually grew to supply for British monarchs and high-profile clientele. It was especially known for providing its services to former prime minister Winston Churchill.