160-year-old British clothing retailer on 'brink of collapse'

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.