Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
TM Lewin, the British men’s wear retailer which specialises in men’s shirts and suits has announced it will permanently close all its UK shops as part of a major restructuring, making 600 of its 700 employees redundant.
A representative of the company that owns TM Lewin said all sales will be taken online in an effort to 'right-size' the business and ensure its long term future in the wake of the COVID-19 pandemic.
TM Lewin and Sons Limited was founded in London in 1898 and it is claimed that the company’s founder, Thomas Mayes Lewin created the first modern shirt with buttons down the front. The company has operations in Australia and India and runs franchises in 16 countries, in additon to its network of 66 shops in the UK.
Eurofound (2020), T.M. Lewin, Closure in United Kingdom, factsheet number 101392, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101392.