Well it looks like the once famed design house is preparing for its final curtain call. Things have been looking pretty dim for Escada and unfortunately there is nothing that can save the label from folding. Filing for bankruptcy is the next step after a failed bid at saving their assets by negotiating to trade old debts for new notes. The head honchos are going to meet today to decide the fate of the label and most likely despite the hesitation of CEO Bruce Saelzer, go ahead with the insolvency filing. Of course doing so will definitely hinder the brand's image. But at this point it seems unavoidable. Alas, this is one in a long line of casualties of our challenging economy.
Wednesday, August 12, 2009
Trendy Fashion Buzz - Escada: Over & Out
Well it looks like the once famed design house is preparing for its final curtain call. Things have been looking pretty dim for Escada and unfortunately there is nothing that can save the label from folding. Filing for bankruptcy is the next step after a failed bid at saving their assets by negotiating to trade old debts for new notes. The head honchos are going to meet today to decide the fate of the label and most likely despite the hesitation of CEO Bruce Saelzer, go ahead with the insolvency filing. Of course doing so will definitely hinder the brand's image. But at this point it seems unavoidable. Alas, this is one in a long line of casualties of our challenging economy.
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