It seems that NKD's decision to drop Wild Roses, pushing the Swiss women's apparel company into insolvency (Compass issue 6-10+11 of July 10), was largely due to its own financial problems. Reports from Germany indicate that a German court has launched an investigation into NKD' financial situation because of suspicions of emblezzelment with regard to a sum of €3.7 million. This comes after another report that that NKD, a large chain of discount textile stores, is on the verge of bankruptcy and that its controlling shareholder, Claas E. Daun, is looking for a new investor after injecting some €40 million into the business.
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