Escada’s Troubles
Whatever happened to top fashion brand, Escada?
Apparently, the fashion house from Germany has nosedived in the last couple of years due to weak sales. An interview with its chairman, Bruno Saelzer, has been published in a German newspaper confirming this.
The company is indeed in a tight situation, with liquidity applicable only until the month of August. Alternatives and solutions are being sought but the business dissolving is the most likely scenario.
A debt restructuring is in order, and must be approved by the board by this month’s end. However, what hope is there for the company when the chairman himself has said, “98 out of the 99 possible measures” has already been taken into account to save it?
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- Posted in Fashion News on July 14th, 2009
