I look at Homburg in this light
I look at Homburg in this light. So often male groups write songs that are addressed to the women in their lives. I think Reid had a gentleman in mind with this tune – a gentleman he wasn't too fond of.
I think the song is addressed to a man. My guess is the author is speaking to a man who has had an affair with his wife. This man and the singer's wife obviosuly met at work ('your multulingual business friend'), and it seems like the fling came to an end after the woman found out that the man was fooling around with another woman himself ('the floor she found descended, and the ceiling was too tall').
I think the chorus is apparent. The singer is telling this man that he has essentially become too big for his britches. He thought he could juggle several romantic relationships at once, but he got burned. The singer's wife was likely promised that the man who she was having an affair with was single and that she was the only woman in his life, but once she found out otherwise, she left him. Thus, his former stature as a womanizer has been considerably reduced. He's been cut down, or has shrunk, so-to-speak (your trouser cuffs are dirty ... your overcoat is too long).
Just my two cents.