Aquascutum is put up for sale
Aquascutum, the British luxury clothing brand, has been put up for sale.
Owner Harold Tillman, who also controls Jaeger, has reportedly appointed Rothschild to handle the sale process. The financial advisory group was initially brought in last year to look over approaches to the business.
Those interested in buying the heritage British brand are believed to include Hong Kong based YGM Trading, which owns the rights to the Aquascutum brand in Asia, and a number of private equity firms.
Tillman bought the brand in 2009 from Japanese textile company Renown with former Jaeger chief executive Belinda Earl. However, Earl has recently stood down from the business due to ill health.
Founded in 1851, Aquascutum has struggled in recent years. In its last posted accounts, the company stated that it made a loss of £10 million on revenues of £28 million in the year to February 2010.
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