The Limited Times

Now you can see non-English news...

Except for one shop: world-famous German fashion house closes almost completely 

2020-11-30T17:37:20.393Z

Part of the world-famous fashion company Escada is sold, another part is closed. A good 100 employees lose their jobs.



Part of the world-famous fashion company Escada is sold, another part is closed.

A good 100 employees lose their jobs.

Aschheim - The insolvent fashion company

Escada SE

is partially closed.

The previous investor

Regent is

taking over

parts of the business, as

confirmed by

the insolvency administrator

Christian Gerloff's office

on Monday.

For parts of the company, however, the agreement that has now been concluded means the end: "The activities not taken over, including seven of the eight Escada stores in Germany, will be discontinued at the end of February 2021," says von Gerloff.

"We cannot announce further details at the moment."  

The US investor Regent had

already taken over

Escada

last year.

The bankruptcy only affected part of the fashion manufacturer.

As can be heard from corporate

circles, Escada

SE included design, marketing, part of the sales and the eight shops, but not, for example, the trademark rights.

These are therefore in another company not affected by the insolvency and therefore still with the investor Regent.

This is how it goes for the label: Escada: More than half of the employees have to go #escada #regent # takeover #textilwirtschaft https://t.co/Z8epokqwnZ pic.twitter.com/togTNkXUk9

- TextilWirtschaft (@TW_online) November 28, 2020

Due to this constellation, the insolvency administrator could not initiate a normal bidding process, according to the districts.

There would not have been much to do

with

Escada

SE alone, so that only a new sale to Regent or the closure would have been possible.

Now a mixture of both has occurred.

A good 100 of the SE's 180 employees to date will lose their jobs.

Of the shops, only that in Munich remains.

Escada went

through a bankruptcy in 2009.

At that time, the company was sold to the Indian entrepreneur

Megha Mittal

, who handed it over to Regent in the fall of last year.

Escada

was one of the world's largest brands for luxury women's fashion in the 1990s and generated billions in sales.

Supermodels such as

Claudia Schiffer

,

Linda Evangelista

,

Cindy Crawford

and

Naomi Campbell

presented the collections.

(

dpa

)

Source: merkur

All news articles on 2020-11-30

Similar news:

You may like

Trends 24h

News/Politics 2021-01-16T13:31:49.413Z

Latest

© Communities 2019 - Privacy