Following a slew of financial difficulties, the Commercial Court of Paris has opted to implement a restructuring plan for the Christian Lacroix label, reports Le Figaro.
In this plan, it was suggested that the fashion house cut most of its positions, which implies the loss of the couture and ready-to-wear divisions.
Only a dozen employees will be kept on board to manage licensing for the brand’s accessories and perfumes.
Simon Tahar, an attorney for Lacroix, explained that the court refused all plans proposed by various buyers, and has opted to resume with a continuation plan for the enterprise, as preferred by Christian Lacroix’s current shareholders.
An employee of the fashion house expressed disappointment and fear for the demise of the Lacroix name in the wake of its couture and ready-to-wear being cast into oblivion.
Christian Lacroix, which was founded in 1987, reported a loss of 10 million euros in 2008.