Yesterday was a really sad day as Aquascutum confirmed that are going into administration. In a statement the board explained that 'the senior management team have worked tirelessly to develop and build the Aquascutum brand and offer.'
Despite their efforts, the news didn't come as a surprise. For a long time reports have been surfacing confirming that the brand's financial problems were dire. Things looked like they were possibly on the up back in 2009 when British Fashion Council chairman Harold Tilman and Belinda Earl bought the company and brought on designer Joanna Sykes to serve as creative director but sadly the company continued to make significant losses. 'The challenging conditions in the UK, however, has unfortunately meant that the team have been unable to develop and build the Aquascutum brand' the statement said.