Aquascutum chief quits after failed takeover bid

AQUASCUTUM chief executive Kim Winser has left the luxury brand after her attempt to take control of the firm through a management buyout failed.<br /><br />Sources close to the business said that Winser &ndash; who was drafted in from Pringle to turn the business around three years ago &ndash; had seen her offer for the firm rejected by its owner, Renown.<br /><br />It is not known why Winser&rsquo;s bid, which she had been negotiating for the last 12 months, was rejected, nor who will take over the company.<br /><br />Renown is now thought to be trying to sell the luxury clothing brand, which it acquired in 1990, to China&rsquo;s YGM Trading.<br /><br />YGM already has the license to sell Aquascutum clothes in Asia, the brand&rsquo;s biggest market.<br /><br />Renown said last year it was considering selling Aquascutum as part of a restructuring following three straight years of losses.