Leeds-headquartered tailoring firm Berwin & Berwin has been saved from administration by Edinburgh Woollen Mill, saving 800 jobs.
Joint administrators Tony Wright, Phil Pierce and Russell Cash, partners at business advisory firm FRP Advisory, were appointed on 8th February after a period of tough trading at Berwin & Berwin.
After being appointed, the administrators sold the UK element of the business and its assets to Formal Tailoring 1885 Limited, which is part of the Edinburgh Woollen Mill Group.
The acquisition includes its three brands Paul Costelloe, Lambretta and Baumler, 36 menswear concessions and outlets, and all existing stock.
Following completion of its purchase by EWM Group, Berwin & Berwin will open a further five menswear concessions in 2018 and its brands will be stocked in EWM Group’s Days Department Stores and other stores within the group.
Berwin & Berwin’s German and Hungarian operations will also be run by EWM Group, which will act as the main operator in a joint venture with unnamed partners.
A spokesman for Edinburgh Woollen Mill Group said: “We recognised the synergies between the Edinburgh Woollen Mill Group and Berwin & Berwin’s manufacturing and cutting operations, which have made a name for themselves through their high-quality finish and commitment to detail.
“Across the group, we have always committed ourselves to saving jobs where we can and in the case of Berwin &
“We are proud of our record of saving high street brands and always endeavour to provide our customers with the best quality garments at an attractive price point.
“We welcome Berwin & Berwin’s staff into the group and will look forward to continuing to invest in the business over the coming years.”
EWM Group said it will protect all jobs and expects to move Berwin & Berwin’s UK head office team into the offices of Jaeger, Austin Reed and Viyella over the coming months.
Joint administrator Pierce added: “Not only does this deal save hundreds of jobs, it ensures the continuity of supply so there is no disruption for customers.
“Berwin & Berwin produces premium, high-quality products and by working closely with the directors to market the business and its assets for sale, we’ve been able to find a buyer that has strong synergies with the company, and ultimately a solution that delivers a positive result for all parties.”
Berwin & Berwin’s managing director Simon Berwin’s great-grandfather set up the company when he arrived in the north of England more than 131 years ago from Belarus, with his wife, seven children and a sewing machine.
The acquisition brings the number of stores and concessions that Edinburgh Woollen Mill Group operates to 1,113. The group now employs approximately 24,000 people worldwide.
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement