Aquascutum chief executive Kim Winser has left the luxury brand.
Winser, who joined Aquascutum in 2006 from Pringle, is understood to have left the luxury brand after her plans for a management buyout of the business from its Japanese owner Renown failed.
A source close to the business denied that Winser’s departure had been prompted by poor performance at the brand. He said: “Kim made a very generous offer for the business and it is a mystery why it was rejected by Renown.”
Management and staff at Aquascutum are understood to have told of Kim Winser’s departure in a meeting this morning at the businesses London and Corby offices.
It is unclear who will take over the running of the business.
Renown has reportedly been trying to offload the business which it bought for about 20 billion yen (£113.2m) in 1990.
Winser was drafted in by Renown to turnaround the business.
Aquascutum’s was due to file accounts at Companies House in October last year. The company is still thought to be loss-making