Aquascutum chief executive Kim Winser will today leave the business after Japanese owner Renown rejected her bid for a management buyout.

Winser joined the luxury retailer in 2006 to try and salvage the business after consecutive years of losses.

Renown injected ÂŁ40m to revive the brand in 2007 and Winser had been preparing earlier this year to head a buyout after Renown sought an exit from the business.

Sources close to Aquascutum said that her departure comes as a surprise, that she had not wanted to exit the business and that she had been trying to turn it around.

An announcement is expected later today.

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