The global fashion retailer Esprit has filed for insolvency for its European business. The company said on Wednesday that it filed for insolvency for Esprit Europe GmbH and six other German subsidiaries at a court in the German city of Dusseldorf. Business operations are to continue until further notice. Current managing director Man Yi Yip will leave the company, according to the press release. Lawyers Christian Gerloff and Christian Stoffler are to take over the management and reorganize the fashion group. The approximately 1,500 employees affected in Germany have been informed, according to…