As a takeover has failed for Esprit Europe, two remaining parties only want to save a very slimmed-down stump – or not even that.
“Risk averse”
After one Esprit unit after another has gone bankrupt, now its European headquarters has also started insolvency proceedings. In recent months, the fashion brand had sought buyers for its European operations, but failed. Some 1,300 employees are losing their jobs.
Restructuring manager Christian Gerloff told ZDF that his goal has always been to save as many jobs as possible, but that no interested party has been found that wants to take this entrepreneurial risk. There are still talks with two candidates, but both bids are aimed at taking over the European brand rights. One of the bidders envisions a relaunch at a later date, the other a continuation of operations on a significantly smaller scale.
Esprit Europe was the parent company for Esprit in Austria, Belgium, Denmark, France, Germany, Poland and the United Kingdom. According to the company, 124 stores remain in Europe.
