Esprit Holdings (HK:0330) has released an update.
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Esprit Holdings Limited has voluntarily informed its shareholders and potential investors that it is winding up two indirect wholly-owned subsidiaries, Esprit Regional Distribution Limited and Esprit Retail (Hong Kong) Limited, due to their financial struggles and the insolvency of related German subsidiaries. The liquidation follows the subsidiaries’ inability to recover funds and continue operations, leading to their deconsolidation from the Group’s financial results. The affected subsidiaries contributed marginally to the Group’s revenue and assets, reflecting a minimal direct financial impact from the liquidation.
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