Heritage Shirtmaker Rebuilds After Pandemic Struggles
- TM Lewin plans store expansion amid office wear revival
- Collapsed during the pandemic and again in 2022, now opening new stores
- Focusing on suits, shirts, knitwear, and T-shirts
- 70% of sales driven by formalwear
- Managing director Dan Ferris calls for government support on staffing and property costs
TM Lewin, the heritage shirtmaker that once owned 150 stores and collapsed during the pandemic, is now plotting a store expansion following a revival in demand for office wear. The company recently opened a new store on Bow Lane in London and is eyeing further sites across Manchester and Edinburgh. Managing director Dan Ferris told the Times that ‘a big part of our three-year plan is to expand the real estate very quickly.’ TM Lewin, which briefly pivoted into resort and casual wear, has now doubled down on a core range of suits, shirts, knitwear, and T-shirts. Around 70% of its sales are driven by formalwear, with customers prioritizing quality over price. Ferris also called for government support on issues impacting retail recovery, including staffing and property costs. As the brand rebuilds relationships with landlords and suppliers, it emerged from administration in June 2020 and was later acquired by US private equity firm Stonebridge via its Torque Brands vehicle.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about TM Lewin’s plans to rebuild its store estate and expand in certain cities. It also discusses the challenges faced by the brand post-administration and the impact of Brexit on retail recovery. However, it includes some repetitive information and personal perspective from the managing director.
Noise Level: 3
Noise Justification: The article provides relevant information about TM Lewin’s plans to expand its store estate and discusses the challenges faced by the brand post-administration. It also touches upon the broader issues impacting the retail sector such as staffing and property costs. However, it does not delve into in-depth analysis or provide significant insights beyond what has already been reported.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses TM Lewin’s plans to rebuild its store estate and expand in response to increased demand for office wear, as well as the challenges it faced during administration and its debt situation. It also mentions the impact of Brexit on retail hiring. These topics are related to financial aspects such as company performance, expansion, and debts.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event is mentioned in the text and it’s not the main topic.
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