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ashion retailer Esprit has filed to liquidate its U.S. subsidiaries, including Esprit U.S. Distributions and Esprit U.S. Retail, which had combined liabilities of $40.5 million as of June 30. The company's real estate holdings will be sold off, including a 900,000-square-foot warehouse in Jersey City. This move comes after Esprit leased space at 160 Varick Street in Hudson Square just over a year ago to house its design and marketing teams.

    Esprit had attempted to relaunch in the North American market with pop-up stores in New York and Los Angeles, but ultimately cited "poor business and financial conditions" as the reason for shutting down its U.S. subsidiaries. The company's board determined that high operating costs and disappointing revenue would not be enough to pay off debt obligations. Esprit had previously filed for insolvency in several countries, including Switzerland, Belgium, Germany, the Netherlands, and Hong Kong.