Escada (USA) seeks OK of $6 million sale of substantially all assets

By Caroline Salls

Pittsburgh, Dec. 21 - Escada (USA) Inc. requested court approval of the $6 million sale of substantially all of its assets, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The buyer is Escada US Subco LLC, a limited liability company formed by HSBC Trustee (CI) LLC, which also purchased the assets of parent company Escada AG.

Since the parent company was sold, Escada (USA) said it has stopped receiving financial or marketing support.

Escada (USA) is a wholly owned subsidiary of Escada AG, an Aschheim/Munich, Germany-based designer and marketer of upscale women's apparel. The subsidiary filed for bankruptcy on Aug. 14. Its Chapter 11 case number is 09-15008.

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