In 2009, Escada sold its subsidiary "Primera AG", based in Münster, Westphalia which comprised the brands "apriori", "cavita", and "Laurèl", as well as "BiBA". On 11 August 2009, Escada filed insolvency at Munich Local Court, as an exchange offer for the outstanding bonds of €200 million was not accepted by the necessary 80% of all bond holders. In November 2009, it was acquired by India's London-based billionaire Lakshmi Mittal, whose daughter-in-law, Megha Mittal, is the owner and Director of the Board. She is married to Aditya Mittal. Megha Mittal sold the business in October 2019 to Regent, L.P. a global private equity firm in Beverly Hills, California.