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Aquascutum, the luxury fashion retailer, is seeking a suitable location in London's West End to open a new flagship store by autumn 2013.

Aquascutum is to sell its UK fashion stores out of administration to YGM Trading of Hong Kong for £15m, securing the future of about 100 jobs.

Aquascutum is planning to open a further five fashion stores in London, as part of an expansion programme that will also involve a move into casual clothing and its first outlets abroad.

Aquascutum is looking to relocate its flagship store in London's Regent Street to a smaller site nearby.

Aquascutum, the fashion supplier with 120 staff in Corby, has been acquired by the owner of Jaeger for undisclosed terms.