Aquascutum Prepares for Layoffs

By
Fall 2009 Aquascutum. Photo: Imaxtree

The future is uncertain for Aquascutum's employees. This week, management announced plans to lay off some of its 400-person workforce starting at the end of June. This news adds to the ongoing shakeup at the London-based company. Just last month, CEO Kim Winser suddenly left her post following the collapse of a buyout deal. Aquascutum's parent company, Renown Inc., has wanted to sell the label since last October, and last week, YGM Trading Ltd. said it may want to buy it. And though no buyout agreement has been reached yet, such a deal could change the outcome for Aquascutum's employees for the better. [WWD]