Skip Nav
Met Gala
See Every Stunning Met Gala Arrival
Met Gala
All Hail Blake Lively: Pretty Princess of the Met Gala Red Carpet
The Royals
You Should Probably Sit Down Before Viewing The Duchess of Cambridge's Stunning British Vogue Shoot
Retro Fashion
Perfect Flapper Dresses to Suit All Body Shapes

Christian LaCroix Finance Problems Credit Crunch Bankrupt

Fab Flash: Christian LaCroix Files for Bankruptcy

Another sad story in the fashion industry this morning as one of France's biggest names announces financial trouble. Christian Lacroix has reportedly filed for voluntary bankruptcy in an attempt to protect the company from creditors. The current economic crisis and company expansion has been blamed for the situation.

French newspaper Le Figaro revealed, "According to our information, Christian Lacroix was declared insolvent on Friday. The representatives of the employees were informed yesterday evening at a works council. The Commercial Court of Paris will decide next week on a receivership or liquidation [approach]."

Despite the troubles the fashion house, which was owned by LVMH until 2005, is hopeful of a buyer and insists it will still be present at Couture week in July. LaCroix's CEO Nicolas Topiol told WWD, "The perception of the brand and its power is very strong. It's the key to future development." Hopefully the company will be able to bounce back from this and continue to dress some of our favourite ladies including Mary-Kate Olsen.

Source

Around The Web
She Says She's Not 'Becky With The Good Hair.' So Who Is Rachel Roy?
Weekly Roundup of eBay Vintage Clothing Finds
Beauty Bargain Dirty Works and Soap & Glory
Kendall Jenner's Hottest Model Moments of 2014
American Apparel on Verge of Bankruptcy
Gossip Girl Stars Then and Now!
Wedding Dress Ideas by Designers for Kate Middleton
Are You More Tempted to Buy Fake Goods in a Weaker Economy?
10 Cool Facts About Hello Kitty
Christian Lacroix is Making Money for French Mint

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

From Our Partners
Latest Fashion
X