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KPMG seeks buyer for Escada

Consultancy firm KPMG is believed to have been appointed to find a buyer for the struggling luxury womenswear brand Escada.

Escada, which filed for insolvency last month, has until December to find a buyer.

Reports suggest up to 12 buyers have expressed an interest, including German lawyer Nickolaus Becker.

UK deliveries of the Escada collections continue as normal. There are no plans to cut any jobs at head office at present.

Escada filed for bankruptcy protection after sales slowed in the luxury market and its debts spiralled out of control. The company attempted a refinancing deal but failed to get the necessary support from its bond holders.

 

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