Shirt maker TM Lewin may be back on the highway after being rescued from management by its main lender, understood to be the Petra Group.

It is not clear if the group’s 50 employees will be retained under the rescue agreement for TM Lewin, which was summoned last month for the second time in less than two years.

The business, which operated 150 stores before the pandemic, has become the only online business since it first went live in June 2020. The group, best known for its shirts but also sellers of vests, knitwear, jackets and accessories like ties, have fallen victim to the shift towards more casual dressing while working from home has increased during Covid.

Thomas Mayes Lewin and Geoffrey James Lewin founded the company in Panton Street, London, in 1898, then on nearby Jermyn Street, home of British shirtmaking, in 1903.

The company supplied uniforms to the RAF and the British Army during World War I and manufactured its shirts in Southend-on-Sea, Essex, until the late 1980s when it moved production overseas. .

Will Wright, head of restructuring at Interpath Advisory and general manager of TM Lewin, said: “After a lot of interest, we are delighted to have secured this acquisition, which warrants future of this famous British retail brand.

“We understand that the new owners will be relaunching the online trading platform in the coming weeks and in the longer term they are looking at the possibility of opening new stores on the street.”

Official clothing retailers have struggled during the pandemic but are showing signs of rejuvenation.

Moss Bros, which specializes in tailored suits, announced this week that it plans to open 10 new stores, while clothing retailer Next has seen a spike in suit sales. for better-than-expected results in the first few months of the year.

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