As the new owners of TM Lewin continue to seek new deals for its retail stores, a report has suggested the company could consider a pre-pack administration in order to allow it to close as many of the shops as possible.
The European textile and clothing industry “is ready to transform the [coronavirus] crisis into an opportunity, and become more digital, sustainable and agile,” according to Euratex, which represents the sector.
The optimism surrounding the sale of British menswear brand TM Lewin back in May seems to have been tempered by the new owner telling landlords that most shops could be shut if they don't offer attractive rent deals.
Moss Bros is launching one-to-one in-store appointments as it starts to open its shops again this month. The move will help it "style customers in a way that will give them confidence and security," it said.
Private-equity controlled German perfume retailer Douglas said on Wednesday it hopes to be able to make it through the coronavirus pandemic without state aid, even though it expects an ongoing hit to sales.
WGSN and Euromonitor have tried to decipher the new consumption modes emerging in the aftermath of the Covid-19 crisis, outlining the profiles of consumers who are both global and local, wary and optimistic.