Douglas Hayward, the London tailoring business popular with the likes of Sir Michael Caine, Richard Burton and Ralph Lauren, has been rescued by a newly formed company, Mount Street Tailors.
Mount Street Tailors was set up by an unknown group of Savile Row tailors who are backed by a US investor. The deal secured six jobs and the store in Mount Street, which opened in 1966, will continue to trade.
Douglas Hayward went into administration last month – a year after its eponymous founder died. The business ran out of cash despite generating sales of around £650,000 annually.
Hayward was one of the first London tailors to set up outside the city’s traditional Savile Row area.