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Menswear shop T.M. Lewin to close all UK stores, go online only- Technology News, Firstpost

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 Menswear shop T.M. Lewin to close all UK stores, go online only

LONDON (Reuters) – British shirt store T.M. Lewin will shut all its shops and log on solely, its restructurer stated on Tuesday, leading to round 600 redundancies because the COVID-19 pandemic continues to hammer the excessive avenue.

The deal will see 66 shops shut as the web enterprise is bought to Torque Manufacturers, an acquisiton arm of Stonebridge Non-public Fairness, in a pre-pack administration.

“We’re happy to have been capable of save the web enterprise of this nice British retail model at a time when the Excessive Road is experiencing such difficulties and lots of manufacturers might disappear utterly,” stated Cameron Gunn, senior companion at restructuring agency ReSolve.

Based in 1898, the menswear retailer had been purchased by personal fairness agency Stonebridge Capital Companions from Bain Capital in Might, with its future unsure as Britain’s coronavirus lockdown closed all non-essential shops from late March till June.

Torque Manufacturers stated that T.M. Lewin had not been a viable going concern in its outdated format, with the enterprise unable to maintain rental agreements.

“With all shops nonetheless remaining closed on account of social distancing tips, our prospects have been unable to buy in retailer for the previous three+ months,” a spokeswoman for Torque Manufacturers stated.

“This has compelled our palms to concentrate on a radical overhaul of the enterprise mannequin.”

Britain’s financial system shrank by 1 / 4 over March and April. Division retailer chain Debenhams and style manufacturers Oasis and Warehouse are among the many well-known British excessive avenue companies to have fallen into monetary difficulties through the lockdown.

(Reporting by Alistair Smout; enhancing by Stephen Addison)

This story has not been edited by Firstpost workers and is generated by auto-feed.

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MacBook Pro and Air will be powered by ARM-based silicon chips, says report- Technology News, Firstpost

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Apple introduced on the WWDC 2020 that it will make transition to its personal silicon chips for its Mac computer systems. Now, a report has surfaced revealing that MacBook Professional laptops with 13.Three, 14 and 16-inch screens in addition to MacBook Air would be the first ones to be powered by its ARM-based silicon.

The knowledge was released by Apple analyst Ming-Chi Kuo, in response to MacRumors.com. In March, Kuo had predicted that the brand new ‌MacBook Professional‌ will launch late in 2020 or early in 2021.

On the Worldwide Builders Convention held in June, Apple CEO Tim Prepare dinner had stated that the primary machines primarily based on new Silicon chips will ship by the top of this 12 months. Prepare dinner added that the change to its new chip is predicted to take two years. The transition to Apple’s personal silicon chips will mark the top of an almost 15-year reliance on Intel to produce processors.

Kuo, in his analysis be aware, had stated that Apple Silicon‌ 13.Three-inch ‌MacBook Professional‌ is predicted to enter mass manufacturing within the fourth quarter of 2020, reported MacRumors.com. He had additionally predicted that an ARM-based MacBook Air will both come up within the final quarter of this 12 months or the primary quarter of 2021.

He had additionally speculated that shipments of MacBook are anticipated to extend to 16–17 million models this 12 months. The transition to its personal chips will carry the Mac into line with the corporate’s iPhone and iPads, that are already powered by Apple-designed chips.

The price of MacBook Air may additionally come down after the introduction of Apple’s chip, reported iMore, citing Kuo’s analysis be aware. He stated that MacBook shipments in 2020 have been higher than anticipated due to an increase in variety of individuals working from dwelling because of the coronavirus pandemic.

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