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Daily News

August 14, 2009

Elite woman’s clothier Escada has filed for bankruptcy. It was not able to restructure its debt after it was downgraded earlier this week. Dow Jones is reporting that LVMH has purchased 50% stakes in two wineries;  Cheval Blanc, which produces and commercializes Chateau Cheval Blanc, and La Tour du Pin owner of the Chateau Quinault l’Enclos estate.

There are two other stories that we will report on today, but they will both get their own commentary and insight, as they are both important: CIT and Hartmarx factory closures.

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