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Sad but true.
Escada, once Jessica Simpson's favorite label, filed for bankruptcy Thursday morning in Germany.
Founded in 1978, Escada reached the height of its popularity about five years back and since has faded into obscurity. That, paired with the troubling economy, lead to Escada's eventual demise.
Over 2,000 people will be jobless as a result.
Sad.
[Image via AP Images.]
Posted: August 13, 2009 at 7:00 pm
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