Fashion group Esprit files for bankruptcy in Switzerland and Belgium. There are also initial signs that business in Germany will soon stop.
However, there is a glimmer of hope: talks are ongoing with an investor. Esprit is not alone: Germany is currently experiencing an unprecedented wave of bankruptcies. Since the survey began in January 2016, there have never been more company bankruptcies, as the Halle Institute for Economic Research (IWH) announced. The most important franchise partner in this country, the PTH Group, turned its back on Esprit at the end of March and converted its stores. Branches of fashion brands such as “Catches” are now set to move in where Esprit stores once stood. The company made a record loss in 2023, which is why the annual report for last year states that there are “significant doubts” about the continuation of the group. The private equity investor Alteri, who also owns labels such as Cecil and Street One, is interested in Esprit's licensing business.