Aquascutum may be able to secure its future after its owners were approached by Crombie owner Alan Lewis.
The luxury brand’s future had been placed in jeopardy after a failed management buyout attempt and an offer to owners Renown from YGM Trading has so far failed to materialise.
Lewis approached Renown through his investment company Hartley Group according to The Financial Times last week to acquire its UK business including its manufacturing operation.
The move will bring hope to the 340 Aquascutum staff, who were all put under consultation earlier this month.
Lewis said: “Brand-wise Crombie and Aquascutum would certainly be a natural fit, due to our similar heritage and ethos.” He said that talks were still at an early stage and any deal would depend on a detailed analysis of the UK and European business.