The bidding war continues at Lacroix

28 July 2009

Is Christian Lacroix about to be saved? Fresh from the news that consulting firm Bernard Krief was the sole bidder set to bail out Lacroix with an offer tabled yesterday, the administrators operating for the French couture house have now revealed they've received a ‘serious' bid from Italy's Borletti Group. Ruling Krief's proposal unsatisfactory and dismissing two other unidentified bidders' offers as ‘inconsistent', a court will be settling the final deal in September. Lacroix has been in administration since May but, if an agreement isn't reached by the end of the year, the current owner will be forced to activate a restructuring plan that could see the workforce cut to just 12 from 124. Here's hoping the fashion house will be revived. Couture wouldn't be right without Lacroix. [WWD]


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