The famous Gieves and Hawkes Savile Row tailor is in danger of being lost forever. Its owner,Trinity, which also owns the Kent & Curwen brand, said this week that FTI Consulting and R&H Services had been appointed as joint liquidators. This is due to the fact that it was unable to sell its brands.
Why no one would want the Gieves and Hawkes brand is a mystery as it has been the tailor of choice for celebrities and the wealthy since the 18th Century. That said, the price may have been too high and now that the owner is being placed in liquidation perhaps someone will come forward if the price is right. It is rumoured that Marks and Spencer are interested. One issue of course is that there are over 60 branches of the tailor that will have diminished its exclusive appeal somewhat. 1 Savile Row, its original shop, is the smartest building on the street.
Trinity is controlled by the Shandong Ruyi Technology Group which is a textile business based in China. Its takeover of Gieves and Hawkes was part of a major push into Europe, also snapping up brands such as Sandro. However the company has been burdened by debt and staffing issues over the years.