Aquascutum, the 161 year old British brand faces an uncertain future as the company sold a massive stake in their sister company Jaeger yesterday.
It hasn't had the best of reviews and the brand has closed many of its concessions and it's London store on Regent Street after 110 years. It has just announced that its press day which was due to take place tomorow will no longer be happening due to 'unforeseen circumstances'
Aquascutum has been saved before from the brink of collapse in 2009 when it was sold to Harold Tillman. But the board behind the brand have been sinking serious money into the company to keep it afloat - somewhere in the region of £30 million over two years - and the numbers are not adding up. It seems a large amount of money used to keep Aquascutum alive came from Jaeger - around £12.5 million.
So as a 90% stake in Jaeger has been sold - in order to keep the profits and jobs of those who work there - many are wondering where this leaves the Aquascutum employees and brand with many suggesting this could also be sold. But how easy this will be with such public losses and a difficult economy - who knows?
0 Yorumlar