Esprit to Shutter All North American Stores
February 03, 2012
Hong Kong-based Esprit Holdings Ltd. plans to shutter all of its North American stores, according to www.bloomberg.com. The company intends to focus on finding one or more license partners to maintain the brand’s presence in North America. The U.S. and Canadian subsidiaries have yet to decide whether to file for Chapter 11 or the equivalent Canadian proceedings. “Our North American subsidiaries’ current intentions are to close all stores in North America unless a potential partner for North America is interested in taking over any of the stores,” said Patrick Lau, head of investor relations, and mergers and acquisitions for Esprit.
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