Hundreds of jobs at risk as fashion brand Esprit files for bankruptcy in Europe
Esprit has filed for insolvency "under self-administration" for seven of its subsidiaries in Düsseldorf, Germany. Esprit Holdings is present in more than 40 countries and has one of its two headquarters in Germany, (the other one is in Hong Kong) where the insolvency proceedings concern the Esprit Europe GmbH, and six other German subsidiaries. The group said in a statement that it is "unviable financially to continue the business as it is currently structured in Germany". High rent, high costs of labour and energy prices as well as "the after-effects of the coronavirus pandemic and the conseq...