This article was last updated on July 23, 2024
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Fashion chain Esprit files for bankruptcy
The European division of fashion chain Esprit is on the verge of collapse. The Hong Kong-based parent company yesterday filed for bankruptcy for the subsidiary at the court in Amsterdam, the company wrote in an email today press release.
The headquarters of Esprit’s European branch is located in the Netherlands. In the Netherlands, approximately thirty stores still sell Esprit clothing, both its own branches and other clothing stores. It is unclear whether the physical stores are also open today.
If a liquidator cannot find a solution for the chain, such as a buyer, the stores in the Netherlands, Spain, France, Belgium and Luxembourg will close. Last month, bankruptcy was filed for the branch in Switzerland.
The American parent company says it no longer sees a future for the European division, where the cash register has become increasingly empty in recent years. Esprit states that “given all the challenges”, a bankruptcy application is “appropriate and in the interest” of the parent group. The group has been in financial trouble for some time.
Esprit’s Dutch webshop was still active today. Esprit started in California in 1968. The company was floated on the Hong Kong stock exchange in the 1990s.
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