Parent of Savile Row tailor Gieves & Hawkes falls into liquidation
The owner of Gieves & Hawkes, Trinity Group, has been put into liquidation after attempts to find a buyer for the historic Savile Row brand failed.
The British tailor, along with group brands Kent & Curwen and Cerutti, now face permanent closure after restructuring firm RSM failed to find a buyer.
The company's Chinese owners have now appointed FTI Consulting and R&H Services as joint liquidators.
In a statement, Trinity Group confirmed that "liquidators have been assessing the financial position of the group and considering the opportunity of a possible restructuring. Further announcements will be made by the company to update the shareholders and the public on the development of restructuring of the Group as and when appropriate."
Gieves & Hawkes can trace its roots back to 1771 when Thomas Hawkes set up his first shop in Soho's Brewer Street, mainly selling outfits to British Army commanders. In December 1912 Hawkes & Co acquired the freehold of No 1 Savile Row, which had previously been home to the Royal Geographical Society.
In 1974 another historic tailoring house, Gieves Limited, acquired Hawkes & Co, along with the freehold of No 1 Savile Row, and the business became Gieves & Hawkes.
Earlier this year, Marks & Spencer were said to be eyeing a potential buyout of Gieves & Hawkes as it looked to create a portfolio of heritage fashion brands, however this deal never came to fruition.
