British menswear brand TM Lewin is currently exploring the option of closing some of its stores unless it can secure attractive rent deals from landlords. The company, which owns and operates 66 shops across the UK, was recently acquired by SCP Private Equity from Bain Capital. In a bid to reduce its rent costs, TM Lewin has enlisted the help of commercial property consultant Cedar Dean to discuss the feasibility of a pre-pack administration, which could result in significant rent reductions. The brand is hopeful that it can still maintain a presence in certain locations, but this will ultimately depend on cooperation from landlords.

Since its acquisition, TM Lewin has come under the management of a new entity called Torque Brands, which was specifically created by SCP to develop a portfolio of British brands capable of serving global customers. The chairman of the company, James Cox, emphasized the importance of implementing effective processes and procedures in order to adapt to the ever-evolving retail landscape. This move is a strategic response to the challenges faced by many traditional brick-and-mortar retailers in recent years.

It is worth noting that TM Lewin has a strong presence in the e-commerce sector, with online retail accounting for 30% of its total sales. This highlights the new owners’ commitment to expanding the brand’s online offerings and catering to the growing number of consumers who prefer to shop digitally.

In conclusion, TM Lewin’s potential store closures and rental negotiations reflect the brand’s efforts to adapt to the changing retail industry. With the support of Torque Brands and a focus on online retail, TM Lewin aims to navigate this challenging period and continue to serve its loyal customer base.

For more information on TM Lewin’s recent developments and its strategy under new ownership, please visit the company’s official website [insert link here]. Additionally, you may find this article from a reputable business publication helpful in gaining further insights into the challenges faced by traditional retailers and the rise of e-commerce [insert link here].