British Heritage Brand, Aquascutum Goes into Administration

British brand Aquascutum have gone into administration after weeks of speculation about the company's future. Owners Harold Tillman and Belinda Earl acquired Aquascutum in 2009 with the premise that the brand would stand united with their retailer Jaeger, saving them from collapse. Earl however stepped down as Chief Executive of Jaeger in March due to health reasons then yesterday's Aquascutum press day was cancelled due to 'unforeseen circumstances.' The Board of Aquascutum explained yesterday "The challenging conditions in the UK, however, has unfortunately meant that the team have been unable to successfully turn the business around which has ultimately resulted in its administration."Despite Tillman's efforts to save the 160-year-old British brand - The Financial Times reported he invested more than £20 million into the brand, they have entered administration and the future doesn't look too bright.