Aquascutum, the 160-year-old British clothing retailer which has dressed Winston Churchill and the Queen Mother, has been reported to be on the brink of collapse.
Administrators could be called in as soon as Tuesday, jeopardising some 250 jobs, after its owner Harold Tillman sold a majority stake in Jaeger, whose operations are tied in with it.
Mr Tillman bought Aquascutum in 2009 and has invested some £20 million in a fight to turn it around but the Financial Times understands he can no longer afford to support its losses.
Aquascutum was founded in 1851 by tailor John Emary. In its early days it was best known for a style of trenchcoat worn during the First World War.
The business's clothes have been worn by Lady Thatcher, Humphrey Bogart and Cary Grant.
Aquascutum's clothes in the UK are sold through 11 high street and outlet stores as well as 20 concessions, including Harrods.
Mr Tillman bought Aquascutum from Japanese trading house Renown in a deal that united it with Jaeger, which he saved from collapse in 2003. The deal saw the rights to the Aquascutum brand in Asia sold to Hong Kong-based YGM Trading.
On Monday Mr Tillman sold a 90% stake in Jaeger and all its secured debt to Better Capital, a private equity firm owned by British venture capitalist Jon Moulton, for £19.5 million.
It is understood that the sale was to protect Jaeger from any fall-out from the collapse of Aquascutum, which is based in Corby, Northamptonshire.
Aquascutum and Jaeger's respected chief executive Belinda Earl recently stood down due to ill health.
10 biggest companies in the world
160-year-old British clothing retailer on 'brink of collapse'
Wal-Mart Stores, or Walmart, is an American retailer that runs chains of discount department and warehouse stores around the world.
The company was founded by Sam Walton in 1962, incorporated on October 31, 1969, and first traded on the New York Stock Exchange in 1972. It is headquartered in Bentonville, Arkansas and has around 8,500 stores in 15 countries, under 55 different names.
Royal Dutch Shell, more commonly known as Shell, is a global oil and gas company headquartered in Holland, but with its registered office in London.
With operations in more than 90 countries, it is active in every area of the oil and gas industry, including exploration and production, refining, petrochemicals, power generation and trading.
Exxon Mobil Corporation, or ExxonMobil, is an American oil and gas corporation formed on November 30, 1999, by the merger of Exxon and Mobil. Its headquarters are in Irving, Texas.
With 37 oil refineries in 21 countries, Exxon Mobil Corporation is the largest refiner in the world.
BP is yet another global oil and gas company, this time headquartered in London. It has operations in more than 80 countries, produces about 3.8 million barrels of oil per day and has 22,400 service stations worldwide.
The name BP is derived from the initials of one of the company's former legal names, British Petroleum.
Sinopec Group is one of the major petroleum companies in China, headquartered in Beijing.
Its business includes oil and gas exploration as well as the production and sales of petrochemicals and chemical fibres.
China National Petroleum Corporation is a state-owned fuel-producing corporation and the largest integrated oil and gas company in China. It has its headquarters in Beijing.
CNPC - the parent company of PetroChina - was created in 17 September 1988 when the government decided to disband the Ministry of Petroleum and create a state owned company to handle all Petroleum activities in China.
State Grid Corporation of China is the largest electric power transmission and distribution company in China, once again headquartered in Beijing.
It has subsidiaries in Northern China, Northeastern China, Eastern China, Middle China and Northwestern China.
Toyota Motor Corporation, more commonly known simply as Toyota, is a multinational automaker headquartered in Toyota, Japan.
The company was founded by Kiichiro Toyoda in 1937 as a spinoff from his father's company Toyota Industries. Its brands include Toyota, Lexus and Daihatsu.
Japan Post Holdings is a state-owned Japanese company that deals with mail delivery and financial services.
It is headquartered in Tokyo and was founded on January 23, 2006.
Chevron Corporation is an American energy company headquartered in San Ramon, California.
It is active in more than 180 countries and is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production, and power generation.