TM Lewin plots store expansion as office wear revival continues

TM Lewin is pressing ahead with plans to rebuild its store estate following a revival in demand for office wear, as workers continue returning to city centres.

The heritage shirtmaker, which collapsed into administration during the pandemic and again in 2022, recently opened a new store on Bow Lane in the City of London and is now eyeing further sites across London, Manchester and Edinburgh, the Times reported.

“A big part of our three-year plan is to expand the real estate very quickly,” said TM Lewin managing director Dan Ferris told the title. “We’re looking for another couple this year, and thereafter it’ll just be about opening as many additional outlets as we can.”

TM Lewin, which once owned 150 stores, has operated solely online since its first administration in June 2020. It was later acquired by US private equity firm Stonebridge via its Torque Brands vehicle.

Rebuilding relationships with landlords and suppliers has proved one of the brand’s biggest post-administration challenges. “It has made our lives much more difficult than a brand that didn’t have that history,” Ferris admitted.

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Having briefly pivoted into resort and casualwear, TM Lewin has now doubled down on a core range of suits, shirts, knitwear and T-shirts. The Times reported that around 70% of its sales are now driven by formalwear.

Ferris told the title customers are prioritising quality over price: “What we’re seeing is our top-end suits are performing really well for us. Where people are coming in, they’re willing to spend the money.”

Ferris, who stepped into the managing director role in January after serving as finance director, also called for government support on issues impacting retail recovery, including staffing and property costs.

“It’s becoming more challenging throughout the sector to hire people where, obviously, post-Brexit, a lot of retail workers have returned to Europe,” he said.

“As we grow, I would like to see rates come down… That would probably be the biggest one [thing] that would help [retail].”

Earlier this year, reports emerged that TM Lewin saw its debts soar by almost £10m, following its collapse in 2022.

A Companies House document revealed unsecured creditor claims increased from £24.6m to £33.8m from June 30 until the end of December.

The debts included those owed by the company that weren’t backed by assets and had no priority over other creditors, making them less likely to be paid back.

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