TM Lewin hires KPMG for sale

Shirt retailer TM Lewin has turned to accountancy firm KPMG to find a buyer for the business,

which could value the company at 100 million pounds.

TM Lewin, which is currently privately-owned, has asked corporate financiers at KPMG to find a buyer for the business as it seeks new funds to accelerate its international expansion, according to Sky News.

In recent years the shirtmaker has launched in Australia, the Czech Republic, Ghana, Indonesia, Malaysia and Singapore, as well as extending its retail footprint in the UK to over 90 stores.

Private equity groups and other retailers are expected to consider bids for TM Lewin, whose sale comes amid a number of casualties on the high street, with retailers including Nicole Farhi, Coggles and Ark falling into administration.

The Sky News report also added that Geoff Quinn, the company's chief executive, is likely to remain at the helm of TM Lewin even though he is expected to make a handsome sum from a sale of the company.