Fashion retailer Aquascutum is working with debt advisory firm Litmus Advisory to raise fresh capital and drive its turnaround, following its acquisition by Jaeger bosses Harold Tillman and Belinda Earl last September.

The upmarket retailer is seeking fresh investment, according to The Independent.

Aquascutum told the paper: “We are working hard to turn around the Aquascutum business.” It added that 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 Tillman.

Aquascutum is to open a “number of retail shops” from autumn. This week the brand launchs its Aquascutum Golf collection in collaboration with golfer Adam Scott as announced last month.