// Gieves & Hawkes is close to permanent closure as Chinese owner goes into liquidation
// The Savile Row tailor said FTI Consulting and R&H Services have been hired as joint liquidators
// The business was placed into liquidation at the request of Standard Chartered
Gieves & Hawkes is facing permanent closure after its Chinese owner Trinity was put into liquidation.
The Savile Row tailor said FTI Consulting and R&H Services have been appointed as joint liquidators, who are “considering the opportunity of a possible restructuring”.
Despite the appointment of liquidators, a rescue deal could still materialise, with Marks & Spencer remaining an interested suitor.
READ MORE: Gieves & Hawkes at risk of permanent closure as owners in debt
The business was placed into liquidation at the request of Standard Chartered following a failed attempt to find a buyer for the brands.
Gieves & Hawkes has been trading on 1 Savile Row for about 250 years. It has 60 other stores across the UK.
Gieves & Hawkes has been owned by Trinity, itself controlled by Chinese textile giant Shandong Ruyi Technology Group, since 2012.
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