Back in April, we told you that Christian Lacroix was looking for a buyer to help salvage his long-suffering line. Then, very quickly after, but without much surprise, the month of May brought the news that the company was filing for bankruptcy. Although at the time, Lacroix CEO Nicolas Topiol had said, “The company expects to emerge quickly from those proceedings and to continue developing the brand,” it appears that was just wishful thinking, as a ruling has finally come on the bankruptcy which will leave the company almost entirely dismantled. Lacroix’s staff will be trimmed by more than three-quarters and the company will most likely stop producing anything of their own and instead focus primarily on licensing deals. It’s not the very end of the company, as a buyer could still step forward and revive the company, but given how it has struggled over these past few years, that seems unlikely, even though officials once again say otherwise:
Lacroix’s chief executive, Nicolas Topiol, said he was relieved by the decision, and did not rule out prospective buyers from coming forward in the future. The label had avoided total liquidation and discussions with interested parties were ongoing, he said.
Last night the French minister for industry, Christian Estrosi, said he “had not lost hope” for the house.