UK clothing retailer Aquascutum goes into administration

18 April 2012 (Last Updated April 18th, 2012 02:00)

British luxury clothing retailer Aquascutum has collapsed into administration, putting around 250 jobs at risk.

British luxury clothing retailer Aquascutum has collapsed into administration, putting around 250 jobs at risk.

The move comes after Harold Tillman sold 90% stake in Jaeger, whose operations were tied in with those of Aquascutum.

The London-based brand was bought by Jaeger's owner Harold Tillman and its chief executive Belinda Earl in 2009, after it had made a £24m loss a year earlier.

Aquascutum said the senior management team has worked tirelessly to develop and build the brand.

"The challenging conditions in the UK, however, have unfortunately meant that the team have been unable to successfully turn the business around which has ultimately resulted in its administration," the firm said.

"The board hopes that under FRP Advisory, the business will be disposed of successfully."

FRP Advisory joint administrator Geoff Rowley told UKPA that the company is keen to enter into early discussions with interested parties open to purchasing the business.

"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," Rowley said.

The retailer is famous for enclothing members of the British royal family, including Queen Elizabeth, and politicians such as Winston Churchill and Margaret Thatcher.

In the 1980s, Aquascutum expanded into the US, Canada, France, Hong Kong, Seoul, Singapore and Taiwan.

In 1990, the brand was bought by Japanese conglomerate Renown, but it was sold to Tillman and Earl in 2009.

Founded in 1851 by tailor John Emary, Aquascutum runs three high street stores at Westfield White City, Canary Wharf and Windsor, and has a further 16 concessions, including at Harrods, London.

The UK-based company also runs its manufacturing base from a factory in Corby, Northamptonshire.