Death Watch

Could Escada Be The Next To Close?

And another! German luxury brand Escada could be the next to go belly-up in the recession, according to chairman Bruno Saelzer. He announced last week that the brand has put debt restructuring plans to its creditors—and if the plans aren’t accepted, the end would be “inevitable.” The label has enough liquidity to last into August, Saelzer said, but the business will be dissolved then if a solution is not discovered. “Ninety-eight out of the 99 possible measures” in order to save the fashion house have already been taken, Saelzer said.