August 12, 2009

Another One Bites the Dust

German fashion house Escada has today filed for insolvency after failing to win enough support from company shareholders to exchange a bond. For nearly a month now, chairman Bruno Saelzer has been in talks with insolvency experts in hopes to combat liquidation and review steps to further restructure the women's leading luxury brand. Escada is said to have EU 70.3 million in debt and falling sales - even with the backing of LVMH the end of Escada is looming inevitable.

Source


2 comments:

Jose Enrique said...

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PLEASE NOTE THAT THIS IS NOT A SPAM OR AUTOMATED EMAIL, IT'S ONLY A REQUEST FOR A LINK EXCHANGE. YOUR EMAIL ADDRESS HAS NOT BEEN ADDED TO ANY LISTS, AND YOU WILL NOT BE CONTACTED AGAIN.IF YOU'D LIKE TO MAKE SURE WE DON'T CONTACT YOU AGAIN, PLEASE FILL IN THE FOLLOWING FORM: HTTP://WWW.NOMOREMAILS.COM; OR WRITE AN EMAIL TO STOP@NOMOREMAILS.COM.PLEASE ACCEPT OUR APOLOGIES FOR CONTACTING YOU.

Stella said...

Wow, it makes me so sad to see companies going under due to these difficult times. Personally, I just think of all the people who have worked so hard and people whose dreams are being crushed. It's just so sad.

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