Fri, 17 Apr 2020 | BUSINESS SALE
Shirtmaker TM Lewin has been put up for sale by its owners Bain Capital, making it the latest UK retailer to seek a new buyer amid the coronavirus lockdown.
Corporate finance firm Alantra has been hired to run the auction, with interested parties asked to submit offers for the business this week. TM Lewin has been backed by private equity group Bain Capital through its debt investment arm since 2015.
The London-based menswear retailer, was founded in 1898 and is described as one of the most prominent tailors in the UK. It trades from 66 UK stores, employing 700 staff, and also has 5 locations in Australia.
TM Lewin’s stores has been closed during the coronavirus pandemic and 650 of the company’s staff have been placed under furlough through the government’s Coronavirus Job Retention Scheme, with 50 continuing work on the company’s digital operations and supply chain.
The company’s most recent accounts were filed for the year ended February 23 2019. At the time, the company reported that it had made investments in developing its product range and that it continued to see strong growth in its online business, lead by an upgrade of its web platform.
At that time, it delivered EBITDA of £6.58 million, up from £5.2 million the year before, while turnover increased from £120 million in 2018 to £121.8 million in 2019. The company reported holding net assets of £73 million at the time, with fixed assets amounting £14.5 million.
Find businesses for sale here.
If you are looking for an exit, we can help!
Established home and garden products business with over 40 years of operation in the North West.
FREEHOLD
Fantastic opportunity to purchase 5 convenience stores in the North of England, including 3 with Post Offices and living accommodation.
FREEHOLD
This 1990 established wellness, health products, and supplements store is located in a prime high street location in Worcester. Part of a larger company established in 1990, the store has built a strong reputation for high-quality products.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.