Aquascutum enters administration.

[DragonJade]

Aquascutum goes into administration

Oh dear.

This is the breaking news lead. More information will probably follow as the story develops at the BBC link below.

The clothing retailer Aquascutum has gone into administration, putting about 250 jobs at risk.

Founded in 1851, Aquascutum was best known for its trenchcoats. It has three UK stores and 16 concessions.

Its clothes have been worn by Cary Grant, Humphrey Bogart, the Queen Mother and Lady Thatcher.

On Thursday, its owner Harold Tillman sold a 90% stake in Jaeger, whose operations are tied to Aquascutum's.

He sold the stake and all its secured debt to Better Capital, a private equity firm owned by venture capitalist Jon Moulton for £19.5m.

http://www.bbc.co.uk/news/business-17744983

 

[Dubya]

Blimey! :eeek:

http://www.bbc.co.uk/news/business-17744983

 

[Wire9Vintage]

Oh that is upsetting. That is one fine brand. At least it has been in the past. My pieces are indestructible.

 

[Undertow]

Now that is really too bad.

 

[Drappa]

Oh no! I adore them I actually found a 1950s winter coat in a charity shop for £12 last winter, and it still looks luxurious after all these years. I always thought they'd go the way of Burberry and get a trendy young designer to update them again.

 

[kyboots]

That is sad to hear. I love Aquascutum! Best, nicest sweater that I have right now is one I bought in London two years ago..John

 

[Doctor Damage]

That's unfortunate, but I guess it happens even to some of the oldest brands. Burberry managed to garner the most fame for trenchcoats, but Aquasucutm was right there with them along the way even if less well known. I just bought one of their Kingsgate trenchcoats from an eBay seller and it's a nice coat, although not as substantial as some of my older coats from other brands. I suspect they simply were unable to leverage their brand in a way that appealed to modern consumers, and I think they may have tried too much in recent years to be another Burberry, when they should have sought to differentiate themselves and chart their own course.

If nothing else, I always liked their house check more than Burberry's and their understated styling.

 

[ButteMT61]

Always sad to see a brick & mortar shut down. But that name - thought it was "aquascrotum" when I first read this! lol

 

[herringbonekid]

it's not necessarily the end; they could be bought by another company, keep the name and turned around. quote:

"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."

 

[Doctor Damage]

it's not necessarily the end; they could be bought by another company, keep the name and turned around. quote:

"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."

Maybe not the end, but not good news either. But further to your point, in the article it says that the Asian rights to the Aquascutum brand are owned by a separate holding company.