Collapse: Gieves & Hawkes dates back to 1771
One of Savile Row’s oldest tailors is on the hunt for a buyer to save it from collapse after 250 years in business.
Gieves & Hawkes, which dates back to 1771 and has dressed British royalty as well as Nelson and Churchill, is on the brink following a debt crisis at its Chinese parent company.
It made the Queen’s boat cloak in 1953 and has also dressed the Prince of Wales, George VI and George V, and Princes William and Harry.
The brand, and its sister company Kent & Curwen, are owned by Trinity Group, a subsidiary of Shandong Ruyi Technology Group, which styles itself as the Chinese LVMH, the luxury conglomerate behind Louis Vuitton.
But the firm has suffered a series of credit defaults following high-profile international acquisitions which left it with £2.9billion of debt.
Gieves & Hawkes faces being wound up and could disappear altogether unless a buyer can be found.
Industry sources said a buyer was most likely to be an Asian retailer or private equity firm, which will look to leverage the brand’s Savile Row heritage to sell to the Asian market.
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