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Aquascutum takes hope from Crombie
16 Jun 2009Crombie is contemplating a merger with troubled rival Aquascutum, it was reported today.
Alan Lewis, chairman of J&J Crombie has reportedly made an offer to Aquascutum's Japanese owner Renown to acquire the label and its business including its manufacturing operations, offering hope for 340 British workers.
Lewis told reporters: "We are certainly looking with interest at what opportunities Renown's divestment of Aquascutum might provide for Crombie." He added that the overcoat maker would not make a formal offer until his people have studied the books.
Fears have been growing for the future of Aquascutum, the loss-making British fashion label which is best-known for its trench coats.
The business failed to attract an offer from a potential Hong Kong-based suitor.
Renown has been considering whether to shrink Aquascutum back to a skeleton UK staff or even considering closing it altogether and shutting its flagship Regent Street store.
Reader views (1)
Thought Angus Monro was looking for troubled high street acquisitions like this
- Matthew, Ware, Herts, 16/06/2009 12:58
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