First-round bids for collapsed luxury fashion brand Aquascutum are expected towards the end of next week, Retail Week has learned.
Administrator FRP Advisory said it was already in discussions with “a number of interested parties” to buy all or parts of the British premium brand, which hit the buffers on Tuesday.
The administration came just one day after former owner Harold Tillman sold upmarket retailer Jaeger to private equity firm Better Capital, which acquired a 90% stake for an initial £19.5m, leaving Tillman with a 10% shareholding.
The sale was achieved in order to protect it from the Aquascutum administration, it is understood. Tillman remains chairman of Jaeger.
Hong Kong-based apparel company YGM Trading is in talks to buy Aquascutum. It owns Aquascutum’s Asian operations in 42 countries.
Itierre, which owns Aquascutum’s European division, and Hong Kong sourcing company Li & Fung are also thought to be among those interested.
It is also likely that UK department stores will be casting their slide rule over the business in a bid to beef up their brand portfolios.
FRP Advisory declined to comment on specific interested parties.
Aquascutum operates stores on Regent Street and in Westfield London, Canary Wharf and Windsor. It has 16 UK concessions and seven outlet stores, with a manufacturing site in Corby. It also has 11 overseas concessions.