Aquascutum fights to turn things around

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The Independent Online

The fashion brand Aquascutum is working with a debt advisory firm to raise capital to drive its turnaround, following its acquisition by the owner of Jaeger last September.

Aquascutum, whose trenchcoats have been worn by Cary Grant and Winston Churchill, is working with Litmus Advisory to deliver fresh multi-million pound funding under the leadership of Harold Tillman, the chairman and majority owner of Jaeger. Litmus declined to comment. Aquascutum said: "We are working hard to turn around the Aquascutum business." The brand had been working with lenders to arrange new banking facilities to "fund working capital and growth" prior to it being taken over by Mr Tillman, it added.

Aquascutum is to open a "number of retail shops" from this autumn. This week, Aquascutum unveiled plans to sell golf clothing in association with Adam Scott, the golfer.