ESCADA prepares for sale of Primera
15.01.2009Rumours about the sale of the Primera group, which owns the brands BiBA, apriori, cavita and Laurèl, have been circulating for some time. Now the departure of the ESCADA´s daughter company, of which they currently have 100% ownership, does not seen to be far off. Acccording to media reports, offers from interested parties have already been sought and ESCADA´s management have informed employees of the imminent sale.
Hardly a surprise - as the ESCADA share price continues to plummet and
the profit predictions for the previous year have had to be lowered yetagain. At that time ESCADA were already making a loss of 27.3 million Euros. ESCADA is on it´s last legs and it seems the company urgently has to see how it is going to avouid going completely bankrupt. Maybe the sale of Primera will be a drop in the ocean, but the daughter company is already regarded as "not very profitable"