Many suppliers have been still left with outstanding debts from the menswear retailer’s prior proprietor Bain Money.
A person supplier advised Drapers he was owed much more than £100,000 from months of accrued credit card debt.
A different supplier said they have experienced no get hold of from the new entrepreneurs yet about payment: ”We experienced a letter from Bain to say it’s been marketed and that SCP would be in contact as to what they were being going to be accomplishing to pay out suppliers. We haven’t experienced any much more than that.”
Suppliers that have been ready to get hold of SCP were being advised the business was not now ready to make payments.
TM Lewin was purchased by SCP previous month by using its new subsidiary acquisition auto Torque Manufacturers which has been set up to ”acquire a portfolio of complementary British manufacturers into 1 centralised shared products and services platform”.
A spokeswoman for the business said: ”We are now operating across the business, which includes suppliers, as we formulate our forward-wanting prepare.”
As reported by Drapers TM Lewin main government Sven Gaede and main money officer Marc Lombardo have both equally resigned from the business next its acquisition.
TM Lewin now trades from 66 merchants in the United kingdom and its new proprietor has reportedly advised landlords it will shut merchants unless of course it is provided a reduction in lease prices.
Its merchants have yet to reopen, inspite of lockdown limitations staying eased in England earlier this 7 days.
It is comprehended that all around 650 of the company’s seven-hundred staff have been furloughed underneath the government’s Coronavirus Job Retention Scheme. All those now operating are from the business’s digital operations and source chain groups.