The fashion company cited the “economic plague” caused by the coronavirus, but operational woes are said to far predate the pandemic.
Designers Peter Pilotto and Christopher De Vos were noticeably absent from the fall 2020 runways in London and Milan.
The Mittal family has owned Escada since 2009, with Megha Mittal serving as chairman.
The singer has designed a collection of all-red looks launching Oct. 1.
To celebrate the new purse she codesigned with the brand, Ora threw a dinner party for her friends Winnie Harlow, Duckie Thot and more.
The show will highlight the new direction the brand has taken under designer Niall Sloan and ceo Iris Epple-Righi.