Apparel retailer T.M. Lewin Australia collapsed into voluntary administration on Thursday, days after its UK parent announced a restructuring deal that will see all its stores close indefinitely.
Stuart McCallum, Adam Nikitins and Colby O’Brien, directors of Ernest & Young’s local restructuring arm, were appointed joint administrators of T.M. Lewin Australia Pty Ltd on Thursday, according to documents lodged with the corporate regulator.
It comes just days after T.M. Lewin announced it would keep its 66 British stores closed indefinitely and lay off around 600 workers in a restructuring deal aimed at saving the business, which is known for its shirts and business attire.
McCallum said EY administrators are working with T.M. Lewin’s UK parent to chart a future for the Australian operation, amid the ongoing effects of the COVID-19 pandemic.
“We are working with the administrators of T.M. Lewin in the UK to ensure the Australian business has the best chance of continuing in Australia, and the potential impact on employees, landlords and other creditors remains at the forefront of our thinking,” he said in a statement to SmartCompany.