Cary Grant - Aquascutum Goes Into Administration
Luxury British clothing retailer Aquascutum, bought by Harold Tillman and Belinda Earl in 2009, has gone into administration.
Luxury clothing retailer Aquascutum has gone into administration.
The British company failed to recover from its £24 million losses in 2008 despite being bought by Harold Tillman and Belinda Earl in 2009 and it is believed up to 250 jobs are now at risk.
Joint administrator Geoff Rowley at FRP Advisory said: ''We are conscious of the value of the Aquascutum brand and its long-standing heritage and because of this are keen to enter in to early discussions with interested parties open to purchasing the business as soon as possible.
''We will of course be conducting an urgent assessment of all stores and concessions and look to communicate to staff and suppliers at the very earliest opportunity.''
Founded in 1851, Aquascutum - which has three UK stores, two in London at Westfield (White City) and Canary Wharf and one in Windsor, along with 16 concession shops - has been worn by Cary Grant, Humphrey Bogart and the late Queen Mother.
The company also has seven outlet stores, and 11 international concessions.
Mr Tillman - who is chairman of the British Fashion Council - recently sold his share in Jaeger after buying a stake when its losses stood at £12 million and gradually returning it to profit.