244
Fashion Jobs
H&M
Visual Merchandiser Manager- Newmarket
Permanent · AUCKLAND
L'OREAL GROUP
Operations & Transport Manager
Permanent · AUCKLAND
ABBOTT
Tpm Contract Manufacturing Manager
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Optometrist - Opsm Rotorua
Permanent · ROTORUA
DANGERFIELD
Online Coordinator
Permanent · AUCKLAND
PUMA
Key Account Manager nz
Permanent · AUCKLAND
L'OREAL GROUP
Key Account Manager
Permanent · AUCKLAND
PETER ALEXANDER
Part Time - Sales Assistant - Peter Alexander nz - Queenstown
Permanent · QUEENSTOWN
FOOT LOCKER
Sales Associate Casual
Permanent · LOWER HUTT
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Manukau
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Dunedin
Permanent · DUNEDIN
ESSILORLUXOTTICA GROUP
Retail Associate | Opsm Rangiora Eyecare
Permanent · CANTERBURY
PETER ALEXANDER
2 x Casual - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
PETER ALEXANDER
2 x Part Time - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
LULULEMON
Assistant Manager | Christchurch (Tuesday - Saturday Rotation)
Permanent · CHRISTCHURCH
ICEBREAKER
Icebreaker : Sales Associate, Casual - Wellington Airport Touchlab
Permanent · WELLINGTON
DFS
Personal Shopper
Permanent · AUCKLAND
H&M
Department Manager- Chartwell (Hamilton)
Permanent · HAMILTON
H&M
Store Manager Wellington
Permanent · WELLINGTON
H&M
Sales Advisor- 28h
Permanent · AUCKLAND
H&M
Assistant Store Manager- Sylvia Park
Permanent · AUCKLAND
H&M
Department Manager- Sylvia Park
Permanent · AUCKLAND
By
Reuters
Published
Jun 26, 2009
Reading time
2 minutes
Download
Download the article
Print
Text size

Escada says almost all conditions for rescue met

By
Reuters
Published
Jun 26, 2009

Escada
Escada Pre-Fall 2009

FRANKFURT, June 26 (Reuters) - Stricken fashion house Escada (ESCG.DE) said it would start exchanging its bonds for new ones on June 29 as it tries to pull itself out of a financial quagmire.

The company had asked its bondholders to sign up to debt restructuring before it runs out of money. It said on Friday 26 June nearly all pre-conditions for the rescue had been fulfilled.

Bondholders would get a cash incentive if they agreed to the swap within the first two weeks of the offer period. This "early-bird" period ends on July 14, it said.

Shares of Escada were indicated to rise 1.6 percent when the market opens at 0700 GMT.

Escada, whose luxury gowns are worn by Hollywood stars such as Katie Holmes, has been struggling with falling sales in the recession and previously warned it risked going bust as soon as next month.

The company also said on Friday 26 June it had sold receivables from license agreement proceeds to shore up its short-term liquidity. It has already received 15.5 million euros ($21.60 million) and expects to get another 1.5 million in the coming months.

Escada also plans a capital increase to raise at least 29 million euros in cash. It said it has received commitments from management board members and German billionaires Wolfgang Herz and Michael Herz, who together hold 24.9 percent of Escada.

The company had said earlier this week its net debt at the end of April had risen to 187.6 million euros from 177.1 million at the end of October, while its cash and cash equivalents had declined to 24.7 million euros from 26.6 million. (Reporting by Maria Sheahan)

© Thomson Reuters 2024 All rights reserved.