Aquascutum Sold to YGM Trading
The deal is done! Less than a month after filing for bankruptcy, British heritage brand Aquascutum is in the clear with a brand-new buyer.
Chinese firm YGM Trading completed the deal yesterday, Vogue U.K. reports.
"We are delighted to announce the sale of Aquascutum, safeguarding the jobs of over 100 employees and the presence of the iconic Aquascutum brand in the United Kingdom," a spokesperson told Vogue. "We hope that, under new ownership, the Aquascutum brand and business will have the best opportunity of success and growth—both in the U.K. and worldwide."
RELATED ARTICLES |
| Aquascutum Finds a Buyer » |
It remains to be seen whether the brand will be back on the London Fashion Week schedule in September. The label is currently being designed by a team; its most recent creative directors were Michael Herz and Graeme Fidler, who left the label in 2010 to go to Bally.
