Sarah Palin’s favorite label, Escada, could go under in August. Escada chairman Bruno Saelzer told a German newspaper the company was waiting for creditors to approve a debt restructuring plan submitted in the past week. At least 80 percent must approve the plan, otherwise the label will be forced to cease trading. Saelzer said they’ve already tried “98 out of the 99 possible measures” to keep the label from going under. Escada has funds in place to last until August, but if creditors don’t come through and another solution isn’t found, the label will be dissolved. Eva Herzigova stars in the fall 2009 Escada campaign. If she and Palin can’t save the label, can anyone?
Escada End? [British Vogue]