The global fashion retailer Esprit plans to close all of its 56 shops in Germany by the end of the year and some 1,300 employees will lose their jobs, dpa learned on Friday.
The brand rights for the insolvent European business are to be sold to the British financial investor Alteri.
In May, Esprit filed for insolvency for its European business.
Esprit is active in around 40 countries worldwide and has its main headquarters in Ratingen, Germany and Hong Kong. Germany was the most important market for the group.
