GERMANY: Escada nears insolvency as deadline looms
Struggling luxury fashion house Escada AG today (10 August) warned it may be forced to file for insolvency later this week if shareholders don’t agree to a EUR200m bond exchange offer tomorrow.
Struggling luxury fashion house Escada AG today (10 August) warned it may be forced to file for insolvency later this week if shareholders don’t agree to a EUR200m bond exchange offer tomorrow.