Esprit chairman steps down

Joachim Korber, the chairman of Esprit Holdings resigned yesterday, dealing a double blow to the clothing retailer a day after its chief executive Ronald van der Vis stepped down in a move that wiped out nearly a quarter of the company’s share price. The resignations have cast a cloud over the company’s HK$18bn (£1.4bn) restructuring plan and put it on the radar of private equity buyers.