Corporate, Securities & Antitrust News
11/6/2009 11:51:24 AM EST
Mittal trust to acquire Germany's Escada
BERLIN – (AP) German-based fashion company Escada AG, which filed for bankruptcy protection earlier this year, said Thursday that it is being acquired by a trust of the Mittal family.
Escada has seen its popularity, sales and earnings decline in recent years. It filed for bankruptcy protection in August after failing to obtain sufficient financing for restructuring measures. Full version (available to lexis.com subscribers) Create an account or login to post comments.