According to Escada chairman Bruno Saelzer, the German luxury brand, as a final effort (“98 out of the 99 possible measures” to save the company have already been taken), is trying to enter into a debt restructuring plan. If the plan does not work, Vogue UK (via German newspapers) is reporting that the long-standing international brand only has enough liquidity to last until August. Therefore, Escada might be forced to cease production in mere weeks.
Escada, now designed by Eva Herzigova and worn by countless celebs including Katie Holmes and Daffy, has been in existence for over thirty years and they operate a standalone store in London’s Sloane Street.
Escada is not alone in hanging by a thread. Besides the obvious Christian Lacroix comparison, Lindsay Lohan, according to the Hollywood Reporter, has founded a production company along with her 6126 leggings line partner Kristi Kaylor (she is also a former senior vice president of Pacific Motion Pictures), as a last ditch effort.
Called Unforgettable Productions, Lohan and Kaylor are reportedly developing a number of television and movie projects including a show called “Faux Real,” which is said to be “an Entourage-like show about the world of fashion.” The production company will also, according to Kaylor, make extensive use of digital media. Kaylor told the New York Daily News that she and Lohan are taking a 360-degree approach – “Lindsay is 23 years old, and she’s so plugged in to mobile media.”
Images courtesy of the Fashion Spot forums.