Fashion retailer and shirtmaker TM Lewin announced it will close all 66 of its UK shops – putting up to 700 jobs at risk.
The firm announced that it will be moving its business online, to help cut costs, as the company tries to deal with the impact of the coronavirus pandemic.
Torque Brands, a subsidiary of Stonebridge Private Equity, bought the business in May. earlier this week, they said it had struck a deal to avoid administration.
In a statement, Torque said: “The Torque team has worked to assess all available avenues for the business model going forwards, but having done so, has formed the view that TM Lewin is no longer a viable going concern in its current format.
“The decision to significantly reduce the scale of the business in order to preserve its future will regrettably result in job losses at TM Lewin, as a direct result of the closing of the store network as we right-size the business.”