Talks taking place on sale of Aquascutum factory

Several potential buyers are interested in the Aquascutum factory in Princewood Road, Corby
Several potential buyers are interested in the Aquascutum factory in Princewood Road, Corby
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Several potential buyers are interested in the Aquascutum factory in Corby, which closed in April with the loss of 115 jobs.

So far no deal has been signed but an announcement on the site in Princewood Road could be made as early as next week.

Geoff Rowley, of administrators FRP Advisory, said: “We are continuing discussions with interested parties around the future of the Aquascutum factory and its assets. We are however unable to comment any more specifically at this stage.

“We can confirm that the factory has not been sold, and we are currently unable to provide comfort that, even should a buyer be found, that it will re-open.”

In May administrators announced that the majority of the UK business and assets of the exclusive British clothing company were sold to a Hong Kong-based subsidiary of YGM Trading Limited.

YGM is the owner of the Aquascutum brand across Asia and is listed on the Hong Kong Stock Exchange.

The sale included the UK stores, concessions and head office operations, and it saved the jobs of more than 100 employees elsewhere in the country. When Corby workers lost their jobs in April they were told there was no money to pay wages and there would be no redundancy payments.

Aquascutum has had a factory in Corby for more than 100 years.

The company dressed a host of celebrities, royalty and politicians, including Cary Grant, Winston Churchill and the Queen Mother.

It has three high street stores at Westfield, Canary Wharf and Windsor and 11 international concessions.