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.
For further insights into HK:0330 stock, check out TipRanks’ Stock Analysis page.