FRP administrators sell Aquascutum
Hong Kong owner of Aquascutum brand, buys the UK business
FRP ADVISORY ADMINISTRATORS have arranged the sale of collapsed fashion retailer Aquascutum.
Geoff Rowley (pictured) and Phil Armstrong, partners at FRP Advisory, were appointed joint-administrators to the luxury fashion brand which is worn by politicians, celebrities and royalty including Kate Middleton on 17 April.
The sale is for the majority of the UK business and assets of Aquascutum to a wholly owned subsidiary of YGM Trading. The business already owned the Aquascutum brand in Asia and is listed on the Hong Kong stock exchange.
The sale will save all UK jobs estimated to be about 115 at the retailer. The administrators are continuing to search for a buyer of the Corby-based factory in the coming weeks.
Rowley (pictured) said: “We are delighted to announce the sale of Aquascutum, safeguarding the jobs of over 100 employees and the presence of the iconic Aquascutum brand in the United Kingdom.
“We hope that under new ownership the Aquascutum brand and business will have the best opportunity of success and growth both in the UK and worldwide.”
