- Esprit is insolvent, so it must liquidate companies and sell products in its branches.
- The group has filed for bankruptcy for its European parent company and six German companies.
- Esprit is a clothing brand selling women's, men's and children's clothing, as well as footwear, watches and accessories.
Esprit is insolvent, so it must liquidate companies and sell products in branches. The financial investor will not take over the operational activities, i.e. the network and employees. As a result, the jobs in the stores and the headquarters in Ratingen will be completely eliminated. As the company reported, the creditors' meeting of the seven insolvent German companies in the group signed a relevant notification.
All branches will be closed and the fashion giant will disappear completely from Germany, reports chip.de. Esprit had previously initiated talks with the German CBR Group, owner of brands such as Cecil and Street One, but the potential investor interrupted the negotiations.
Esprit is a clothing brand that sells women's, men's and children's clothing, as well as footwear, watches and accessories (photo: Shutterstock / Karolis Kavolelis)
Esprit has initiated bankruptcy proceedings in Europe
Recall: Esprit has filed for bankruptcy in a Düsseldorf court for its European parent company Esprit Europe GmbH and six German companies. The bankruptcy proceedings also affect operations in the Netherlands, France, Great Britain, Austria, Scandinavia and Poland. In Switzerland and Belgium, the fashion chain went bankrupt earlier this year.
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The fashion giant has filed for bankruptcy in court. 
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Well-known clothing chain closes stores in shopping malls. Bankruptcy
The fashion group was no longer able to meet its financial obligations and wants to restructure. The brand would like to move towards a more flexible business model, with a greater emphasis on e-commerce and wholesale, retaildetail.eu analyzed.
Esprit is a clothing brand that sells women's, men's, and children's clothing, as well as footwear, watches, and accessories. The company was founded by Susie Tompkins Buell and Douglas Tompkins. It has a network of boutiques in 40 countries around the world. It also has stores in Poland.
