Aquascutum Latest

Updated Thursday April 19, 11.46am: Following its decision earlier this week to enter administration, Aquascutum has decided to close its UK manufacturing plant in Corby - due to "loss-making operations and a lack of funding" - with a loss of 115 jobs. "Whilst a difficult decision, it has been necessary in order to stem on-going losses for the business, and to protect the positions of the 135 remaining employees," a spokesperson for the adminstrators said this morning. "We plan to provide appropriate assistance to all affected employees, including liaising with Jobcentre plus and helping with claims to the Redundancy Payments Service. All head office and retail operations across the UK and international high street, concession and outlet stores are operating as usual at present." SEE THE AQUASCUTUM CATWALK ARCHIVE The company is in the process of looking for a buyer, and is hopeful that a suitable investor will be found soon. "We have received a high level of interest from potential purchasers from around the world, with our focus now upon progressing discussions for a sale of the Aquascutum brand and assets," the spokesperson added. LAUREN MILLIGAN 19 April 2012 http://www.vogue.co.uk/news/2011/08/01/aquascutum-takes-out-8-million-loan