House of Lacroix Files for Bankruptcy

We knew something was amiss when Christian Lacroix showed his fall 2009 ready-to-wear collection in a Parisian parking lot. And then there was the rumored—but never consummated—deal to sell a stake in the business to mysterious Swiss buyers. Let the baroque/broke puns fly, because today the French fashion house announced that it is seeking protection from creditors (the transatlantic equivalent of filing for Chapter 11 bankruptcy). Known for its gilded gypsy gowns and iconic pouf skirts, Christian Lacroix has never turned a profit and last year hemorrhaged €10 million ($13.9