Esprit files for bankruptcy in Europe, resulting in 1,300 job losses

Recently, after a series of bankruptcies among Esprit's subsidiaries, its European headquarters has also begun bankruptcy proceedings. Over the past few months, the fashion brand has been seeking buyers for its European operations but has been unsuccessful. As a result, approximately 1,300 employees will face unemployment.

Restructuring manager Christian Gerloff stated that the goal has always been to retain as many jobs as possible, but no interested parties willing to assume such corporate risk have been found. Negotiations are still ongoing with two candidates, but both offers aim to take over the European brand rights. One bidder envisions relaunching the brand in the future, while the other plans to continue operating on a significantly reduced scale.

Esprit's European company is the parent company of Esprit in Austria, Belgium, Denmark, France, Germany, Poland, and the UK. According to the company, there are currently 124 stores remaining in Europe.