Aquascutum sale saves 100 jobs
by ITV Central News
Administrators have successfully sold the clothing brand Aquascutum. It is not yet clear how the sale will affect staff in the Midlands.
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Potential buyer for Aquascutum
Administrators have entered into talks with a potential buyer over collapsed clothing retailer Aquascutum
The 160-year-old factory based in Corby fell into administration last month.
"Some 70 parties from around the world expressed interest in the business"
- GEOFF ROWLEY, joint administrator at FRP
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Job losses at Corby factory
Clothing company Aquascutum is shutting its factory in Corby, making more than 100 staff redundant.
Read the full storyAquascutum co-owner: Business made 'significant losses' over the years
Harold Tillman, co-owner of the British retailer Aquascutum has sold a majority stake in Jaegar, following the collapse of the clothing company yesterday.
Mr Tillman said that said that the business continued to make "significant losses" despite their efforts to turn it around.
Aquascutum goes into administration
by ITV Central NewsCorby-based clothing retailer Aquascutum has collapsed into administration today, putting 250 jobs in jeopardy.
The 160-year-old British business, which has dressed Winston Churchill and the Queen Mother, was bought by Jaeger's owner Harold Tillman and its chief executive Belinda Earl in 2009.
But it has continued to make "significant losses" despite their efforts to turn it around, according to administrators at FRP Advisory.
Aquascutum operates three high street stores - at Westfield White City, Canary Wharf and Windsor - and has a further 16 concessions.
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