By  on June 29, 2009

BERLIN — Escada said its 200 million euro, or $280 million, bond exchange program would begin today, and that almost all the preconditions for the realization of its financial restructuring plan have been met.

The struggling German fashion house is offering bond holders a cash incentive if they accept the offer during the early-bird period, which ends July 14. The overall exchange period runs through Wednesday.

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