Aquascutum, the UK-based luxury clothing manufacturer and retailer, has fallen into administration, the latest high-profile name to fall by the wayside in the consumer downturn.
FRP Advisory, the restructuring, recovery and insolvency firm, said two of its partners had been named administrators of the 161-year old loss-making firm, which employs 250 people in the UK.
Aquascutum, acquired by Harold Tillman and Belinda Earl in 2009, operates three high street stores, 16 concessions, seven outlet stores, and 11 international concessions.
It runs its manufacturing base from a factory in Corby, Northamptonshire.
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, said joint administrator Geoff Rowley.
(Reporting by James Davey)