Christian Lacroix Went Bankrupt
 Thursday, May 28th, 2009 by Connie T.
Not even designers to the stars are immune to the global recession. The U.S. establishment of Christian Lacroix,
French fashion couturier, filed for bankruptcy protection from creditors today in a court in France.
The company, founded in 1987 by Bernard Arnault as a haute couture retailer, will have its fate decided upon
by the French courts: restructuring, or liquidation.
Arnault sold Lacroix to the Palic Group of Florida in
2005.
According to the NY Times,
Louis Vuitton, Chanel, Versace, and other leaders in the high fashion industry are similarly
suffering economic woes due to drops in sales and financial turmoil.
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