In recent news, it has been reported that Charles Tyrwhitt, a prominent competitor of TM Lewin, has made a bid for the renowned shirtmaker. TM Lewin, a brand that has been in existence since 1898, was recently put up for sale as a result of the detrimental impact of the coronavirus crisis. Interested parties were urged to submit their offers quickly due to the urgency of the situation. Bain Capital has held a controlling stake in TM Lewin since 2015.
Controlled by Nick Wheeler, Charles Tyrwhitt stands as a major rival to TM Lewin. However, it remains uncertain whether Wheeler would be committed to preserving TM Lewin as an independent brand if the bid proves successful. As of now, none of the involved parties have provided any comments regarding the matter, leaving the exact details of the potential deal shrouded in mystery. Additionally, it should be noted that there is a possibility of another undisclosed bidder entering the scene and finalizing the acquisition.
TM Lewin is headquartered in London and operates a total of 66 stores across the UK, along with five additional stores in Australia. On the other hand, Charles Tyrwhitt has slightly over 40 stores spread across the UK and various international markets. TM Lewin’s flagship store, located on London’s renowned Jermyn Street, holds significant prominence among menswear shops, particularly those specializing in shirts. Unfortunately, due to the ongoing circumstances, the flagship store, along with the rest of TM Lewin’s locations, remains closed. Presently, 650 out of the brand’s 700 employees are on furlough, benefiting from the UK government’s Job Retention Scheme.