Savile Row tailor placed into liquidation as quest for buyer fails
Trinity Group, the parent company behind iconic men’s Savile Row tailor Gieves & Hawkes has been put into liquidation after failed attempts to woo potential buyers.
FTI Consulting and R&H Services have been appointed as joint liquidators for the 250-year-old brand, alongside its sister brands Kent & Curwen and Cerutti, according to The Times newspaper.
The liquidators were drafted in by the company’s lender, Standard Chartered, after advisory firm RSM failed to find a buyer.
In 2012, the Savile Row tailor was snapped up by Trinity Limited, which is overseen by Shandong Ruyi Technology Group. Shandong Ruyi has faced mountains of debt and defaulted on bond payments, with its financial situation severely impacted by the pandemic.
It had been thought a sale would likely involve another Chinese buyer, although there were hopes that the firm could win over British supermarket titan Marks & Spencer.
The other potential buyer is the entrepreneur Touker Suleyman, owner of high street tailoring brand Hawes & Curtis, women’s wear label Ghost, and several clothing factories in Turkey, Bulgaria and Georgia, in the former Soviet Union, according to market reports.
Trinity Limited is rumoured to owe millions to David Beckham, after an agreement to licence his name and image for its Kent & Curwen brand was terminated early.
