Tuesday, 1 December 2009

Christian Lacroix Bailout Is Looking Unlikely – 1/12/09

Is Christian Lacroix doomed to be liquidated?

That is the question we are asking ourselves as an AFP report said, “Neither the Emirate sheikh nor a French firm who have both expressed interest in acquiring the prestigious fashion house submitted financial guarantees to back their proposals by a deadline, which expired last Thursday.”

This new development means the Paris Commercial Court will be free to decide this week on whether to accept the liquidation plan submitted by the house's owners, U.S. firm Falic.

The plan would involve axing almost all jobs, winding up the couture and ready-to-wear business and paying off the house's creditors with its licensing deals. What a sad end to an impressive talent.

For background information on this story, see our reports on 19 November and 29 October.

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