British menswear brand Peter Werth has scaled back its physical retail offering by closing its stores and concessions, Drapers has learned.
As a result, several people have left the business, although it is not clear how many have departed.
A source close to the situation told Drapers the business needed to rein in its bricks-and-mortar offering in the face of tough market conditions.
He said: “For the past five to six years the brand looked to promote [its product] through retail channels, particularly through House of Fraser, its own stores and online. But this unfortunately hasn’t proved economically viable, so it has been decided to come out of all retail.”
Peter Werth will continue to operate its own website and will be stocked on House of Fraser’s website.
Its website currently lists two stores in Covent Garden and Eastcastle Street in London, as well as concessions with House of Fraser, Sole Trader, Schuh, Topman and independents Banana Connection and Ice Menswear.
British designer Peter Werth founded the namesake brand in 1975, in Islington, north London.
In 2015 the brand told Drapers it planned to expand its retail presence in the UK by opening stores in key cities and targeting premium independents.
At the time, Peter Werth operated a store on Earlham Street in Covent Garden, as well as 30 concessions in House of Fraser, and another in Topman’s flagship on London’s Oxford Street.
The brand went into administration in 2011, placing 70 jobs at risk. JD Sports then acquired the brand, intellectual property and stock of Brand Acquisitions, the business behind Peter Werth and contemporary womenswear brand Pink Soda for an undisclosed sum, saving 68 jobs at Peter Werth concessions.