After Black Friday

So, here’s what happens after the happily ever after: No firm buyer for Christian Lacroix.

Frontrunner Sheikh Hassan Ben Ali al-Naimi, who is close to the ruling family of the Ajman emirate, stepped in in September when the Italian retailer Borletti pulled out. His formal offer of 100 million euros, which the couturier favours, would cover clearing the debts and covering the losses expected in relaunching and developing the brand.

But at the last hearing on November 17 he dropped a bombshell when he said through a representative in court that he was unable to come up with the financial guarantees to back his proposal.

Let’s see what happens in court tomorrow.

Update: Lacroix May Become Licensing Firm After Ruling
So the Paris court approved of its turnaround plans — though I’m not sure how far they’ll take Lacroix. Only 11 staff remain. Pierre Cardin, anyone?

This entry was published on November 30, 2009 at 1:12 pm. It’s filed under Uncategorized and tagged , , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post.

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