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Reuters
Published
Aug 18, 2009
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German investor says bids for Escada assets

By
Reuters
Published
Aug 18, 2009

MUNICH, Aug 18 (Reuters) - Munich-based lawyer Nickolaus Becker has made an offer to acquire assets of insolvent luxury fashion company Escada (ESCG.DE) and is hoping to start talks within the next couple of weeks, he said on Tuesday 18 August.

Escada

Becker, a lawyer and former supervisory board chairman of EM.TV, said he made a written offer on Friday 14 August and was hoping to meet the Escada administrator in the next week or two. So far, he had no response from the administrator, he told Reuters.

Becker said he would be interested in acquiring the Escada brand, licensing rights, individual stores and some inventory, but not the whole company.

German magazine Focus-Money reported earlier on Tuesday 18 August about Becker's interest in Escada.

Escada shares jumped as much as 21.3 percent on the news and were up 17.3 percent at 0.88 euros by 1200 GMT. The shares have fallen almost 70 percent in the past five trading days.

Escada filed for insolvency last week, throwing in the towel after bondholders refused to back a make-or-break debt restructuring deal.

(Reporting by Christian Kraemer and Edward Taylor)

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