The Hong Kong-based parent company explained that the company in question, which operates the wholesale and retail distribution and licensing business in the Netherlands, does not have sufficient funds to continue its business activities.
Moreover, following the proceedings, Esprit Nederland B.V. wil be liquidated. As the Dutch subsidiary is also closely connected to the businesses in Spain and Luxembourg, the survival of those two branches is also in doubt.
As for any future plans on Esprit´s side, the fashion company wants to shut down all loss-making retail operations in Europe in the long term and make way for a new business model that focuses on wholesale and e-commerce.
