The future of collapsed clothing retailer Aquascutum may be decided in the next week after administrators entered exclusive talks with a potential buyer.

Two British heritage brands, two very different fortunes... Harriet Walker considers Burberry's success and Aquascutum's decline

The quintessential British clothes retailer Aquascutum was founded in 1851 by tailor John Emary.

Aquascutum, the 160-year-old British clothing retailer which has dressed Winston Churchill and the Queen Mother, collapsed into administration today, jeopardising 250 jobs.

Bentley Motors has teamed up with upmarket menswear brand Aquascutum for a range of golfwear and accessories.

Fashion Council chief Harold Tillman says visa system should be changed to bring in the tourist pounds. By Harriet Walker

Fashion Council chairman tells Harriet Walker that visa rules should be relaxed

Harold Tillman has held talks to sell his department store, Allders of Croydon.

Just days after reavowing his commitment to non-commitment by saying stable families were more important than the institution of marriage, Ed Miliband wed his long-term partner Justine Thornton yesterday in a low-key civil ceremony.

Aquascutum is selling 100 Regent Street – its flagship for the past 110 years.

We have, us modern folk, a somewhat instinctual reaction to brands and labels. Should we hear, for example, talk of Littlewoods, BHS, Dorothy Perkins, Lidl or Peacocks, our noses begin to turn up almost reflexively. Which will still be many people's reaction to the words TK Maxx. Should, however, someone start to bandy the names Aquascutum, Helmut Lang, Mandarina Duck, See by Chloé or Nicole Farhi about at your dinner-party table... well, now we're talking.

Conceived almost 200 years ago by a Glasgow chemist with an interest in rubber and turned into a fashion icon by stars such as Audrey Hepburn and Steve McQueen, the Mackintosh became the venerable British brand that lost its way. Next week, it seals a remarkable comeback with its first stand-alone store.

Macs and trenchcoats have had some bad press over the years – associated with flashers, disreputable private detectives, Cold War spies and Inspector Gadget. Now, however the raincoat is firmly back on the fashion track as a unisex classic.