Well, it looks like the recession is hitting the luxury fashion houses..
Bye Bye Escada.
I liked their sweet-smelling limited edition summer fragrances, didn't you?
R.I.P.
Associated Press
FRANKFURT -- German fashion company Escada AG filed for bankruptcy after being unable to obtain sufficient financing, a Munich district court said Thursday.
The Munich-based luxury label, famous for women's fashion and accessories, was expected to make the filing this week after it failed to get the necessary support for a bond swap.
Escada, once one of the biggest fashion brands in the world, has seen its sales and earnings decline in recent years.
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