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Douglas Hayward rescued

Douglas Hayward, the London tailoring business which was 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 is believed to have been set up by a group of Savile Row tailors, however their identity remains unclear.

Adminsitrator Ian Robert of Kingston Smith & Partners said the deal had secured six jobs. The store in Mount Street, which opened in 1966, will continue to trade.

Douglas Hayward fell into administration last month – a year after its eponymous founder died. It is believed to have sales of around £650,000 annually.

Hayward was one of the first tailors to set up shop outside of the traditional Savile Row area in the capital.

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