Esprit Holdings Subsidiary Faces Insolvency

Esprit Holdings (HK:0330) has released an update.

Esprit Holdings Limited has announced the insolvency proceedings of its Dutch subsidiary, Esprit Europe B.V. (NLEB), which along with its own subsidiaries accounted for approximately 6.7% of the Group’s total revenue. As NLEB faces financial difficulties, the Board deemed insolvency proceedings necessary and this will lead to deconsolidation of NLEB’s financial results from the Group.

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