Escada USA Inc. filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York on Friday, a day after the parent company, Escada AG, opened preliminary insolvency proceedings in Munich.
The company said the Chapter 11 filing is intended to stabilize Escada’s important American business, which in fiscal 2007-2008 contributed about 20 percent of Escada brand sales. Escada furthermore described the move as “a crucial first step in the overall restructuring of the group.”
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"