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Aquascutum attracts bids

Administrators for the failed luxury fashion brand Aquascutum are hoping to find a buyer for the business by the end of the week after receiving ten bids.

CITY & CORPORATE

Aquascutum attracts bids

Administrators for the failed luxury fashion brand Aquascutum are hoping to find a buyer for the business by the end of the week after receiving ten bids.

The company fell into administration last month when FRP Advisory was appointed to oversee a potential sale of the business.

FRP Advisory said it is currently evaluating the bids although it has not reached exclusivity with any particular party and said it would continue discussions with any interested parties.

Companies interested in buying the 160 year old business include YGM Trading, the licence holder for Aquascutum in Asia, and supplier Cooper & Stollbrand which has made a bid for both the brand and Aquascutum's factory in Corby.

Established in 1851, Aquascutum was family owned until 1990, when it was bought by Japanese textile business Renown Incorporated.  The business was then sold to Jaeger's Harold Tillman and Belinda Earl in 2009.

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