Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Escada in talks with insolvency experts

  • Comment

German womenswear brand Escada may cease to trade as it teeters on the brink of insolvency, according to its chairman Bruno Saelzer.

Saelzer reportedly told German newspaper Welt Am Sonntag that talks had already taken place with insolvency experts.

He said he hoped it would not come to that, but that the group was in a difficult situation. He said it had enough liquidity to last until August but not beyond.

Escada has put a debt restructuring plan to its creditors which must be approved by 80% of them by July 31. If that fails, Saelzer said it would be “inevitable” that Escada would cease trading because “98 out of the 99 possible measures” to save the company had already been taken.

In the UK, Escada has a standalone store in London’s Sloane Street, concessions in Harrods in London and Gleneagles Hotel in Scotland, and a store at Heathrow Terminal 4.

The Escada mainline collection has 27 wholesale accounts in the UK and the Escada Sport range has 43 UK doors.

Escada sold its mid-market subsidiary Primera, which included brands Laurèl, Cavita and Apriori in May.

Parkers has been appointed the UK and Ireland agent for Laurèl, as reported in Drapers last week. Cavita and Apriori continue to be managed by Michael Hellin in the UK.

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.