Edinburgh Woollen Mill Group has bought menswear supplier Berwin & Berwin out of administration.
Edinburgh Woollen Mill, controlled by retail tycoon Philip Day, pulled off the deal after a team from FRP Advisory were appointed joint administrators of Berwin & Berwin last week, Drapers reported.
The acquisition by Formal Tailoring 1885 Limited, part of the EWM Group, includes Berwin & Berwin brands Paul Costelloe, Lambretta and Baumler, 36 menswear concessions and outlets, and all existing stock.
Once the deal is completed, Berwin & Berwin will open another five menswear concessions this year and its brands will be stocked in EWM’s Days Department Stores and other shops within the group.
EWM bought Austin Reed, to which Berwin & Berwin was the main supplier, in November 2016, followed by Jaeger, also supplied by Berwin & Berwin, last March.
The collapse of Austin Reed hit performance at Berwin & Berwin, pushing it into a pre-tax loss of £1.1m in the year to December 2015.
An Edinburgh Woollen Mill spokesman told Drapers: “We recognised the synergies between the Edinburgh Woollen Mill Group and Berwin & Berwin’s manufacturing and cutting operations, which have made a name for themselves through their high-quality finish and commitment to detail.
“Across the group, we have always committed ourselves to saving jobs where we can and in the case of Berwin & Berwin no jobs will be lost.
“We are proud of our record of saving high street brands and always endeavour to provide our customers with the best quality garments at an attractive price point.”