Esprit has been facing difficult times

Esprit has been facing difficult times much before the pandemic started owing to enfeebled sales and has now warned shareholders that it will be posting a loss of US $ 503.2 million in its annual report slated to release late next month.

The European entities of the retailer are already under statutory administration and its shares were trading for as low as 12 cents in Hong Kong.

Many analysts and investors believe the company has no reason left to continue trading.