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Britain’s Gieves & Hawkes Is One Step Nearer To Everlasting Closure

Picture: Gieves & Hawkes

Britain is one step nearer to dropping an necessary a part of its sartorial historical past and tradition. The guardian firm of the 250-year-old tailor, Gieves & Hawkes has been put into liquidation.

Trinity Group, which owns the distinguished tailor and different manufacturers like Kent & Curwen and Cerruti has revealed on Monday that it has introduced in FTI Consulting and R&H Providers as joint liquidators to entry the monetary scenario of the corporate. A possible restructuring of the group is on the desk as effectively. The corporate revealed this in its filings to the Hong Kong Inventory Alternate.

Based on Reuters, lender Commonplace Chartered pulled within the two corporations after the Trinity Group did not discover a purchaser for the storied tailor. That being the case, the manufacturers beneath the Group face potential closure.

All hope just isn’t misplaced, nevertheless, as a report final yr indicated that Marks & Spencer is seeking to purchase out Gieves & Hawkes. The British retailer had earlier purchased over the clothes model Jaeger as a part of its technique of build up a third-party model portfolio in response to the identical news outlet.

If a deal is struck, WWD reported earlier that Gieves & Hawkes’ model identify could possibly be retained however its archive can be bought off at an public sale to collectors. Ought to Marks & Spencer proceed its curiosity within the tailor, the model might enrich its tailoring division. The 2 British manufacturers have labored collectively earlier than and one in all Gieves & Hawkes’ tailors even designed a menswear collection for Marks & Spencer.

It might be a pity if Gieves & Hawkes couldn’t be saved as it could be a loss for Britain’s tradition and historical past.

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